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Nintendo shares drop 10 percent

That strengthy yen's starting to have real impact, reuters reports, kicking Nintendo's shares down 10 percent today, despite massive earnings in the past 12 months and gleeful prospects for Wii and DS in the coming fiscal year.

Institutional investors cashing in chips in the face of the rising Japanese currency is to blame for the drop, said the news service, quoting analysts.

"This has little to do with the company itself, but a lot to do with market sentiment," said Mizuho Asset Management fund manager Yoshihisa Okamoto. "In the current market environment, investors rush to sell at the first sign of negative developments or exhaustion of positive news."

Despite a consistent slide in the past three months - during which the stock has lost a third of its value - Nintendo is still favoured to provide heavy returns in the mid-term. Wade through the Reuters report for more.

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Patrick Garratt

Founder & Publisher (Former)

Patrick Garratt is a games media legend - and not just by reputation. He was named as such in the UK's 'Games Media Awards', the equivalent of a lifetime achievement award. After garnering experience on countless gaming magazines, he joined Eurogamer and later split from that brand to create VG247, putting the site on the map with fast, 24-hour a day coverage, and assembling the site's earliest editorial teams. He retired from VG247, and the games industry, in 2017.

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