TOKYO -- Nintendo's market capitalization reached 5 trillion yen ($45.2 billion) for the first time in eight years and five months at the market's close Thursday, thanks to foreign and domestic bullishness on its game business.
The surge lifted the Kyoto-based company above Mizuho Financial Group to the 15th-highest market capitalization on the first section of the Tokyo Stock Exchange. Nintendo also tops Nissan Motor and Takeda Pharmaceutical while just trailing Sony and Canon.
Nintendo ended the day up 4% at 36,250 yen, bucking the recent correction in tech stocks. Market cap grew 210 billion yen to 5.13 trillion yen.
The company is releasing new "Mario" games and other titles for the popular Switch console. "This is the first time Nintendo has been on the attack this aggressively," said analyst Yasuo Imanaka of the Rakuten Securities Economic Research Institute. The stock was bought on expectations that Nintendo will grab a bigger share of the game market.
While Nintendo is trading at more than 90 times projected earnings per share, there is little alarm about overheating. But market cap once reached 10 trillion yen in 2007 amid the initial success of the Wii console, only to later sink back to 1 trillion yen.
(Nikkei)
http://asia.nikkei.com/Markets/Equities/Nintendo-market-cap-hits-5tn-yen
Nintendo 5.445 trillion yen.
https://stocks.finance.yahoo.co.jp/stocks/detail/?code=7974
Sony 5.403 trillion yen.
https://stocks.finance.yahoo.co.jp/stocks/detail/?code=6758.T
