On the Japanese stock market, Nintendo shares rose to a record-high ¥64,800 on Wednesday before closing at ¥64,300 (up 2.7% from yesterday). Nintendo was compared by many to Apple, Inc., for taking the industry lead from Sony in the video game market just as Apple had done in the portable music industry. Nintendo is currently the third-most valuable company in Japan, trailing only Toyota and Mitsubishi.

“We believe Nintendo’s talent in creating new markets, evident from the launch of the DS and Wii, could bring it close to the level of Apple, whose high valuations are due in large part to its innovative business model,” said Goldman Sachs, who was coverage Nintendo’s stock in a report.

Investors are speculating that Nintendo may once again increase their annual earnings forecast, just as they did a year ago today (for the second time that year). Nintendo has already once boosted their predictions for this financial year, predicting an increased profit of ¥370 billion yen.

Reuters