Doomed!
Nintendo shares rose to two-year high Monday, increasing four percent to close at 14,050 yen on the Tokyo Stock exchange. The jump in price is attributed to speculation that hot new international releases will carry the company in terms of revenue this quarter.
Animal Crossing: New Leafhas been key to Nintendo’s recent success in North America. Released last month, the title was an instant success, setting arecord highfor launch day sales via the Nintendo eShop. To date the game has moved more than500,000 unitsin the United States, boosting Nintendo 3DS hardware sales to 225,000 in June, making it the best-selling system in the country for the second consecutive month.
Recent reports that China may finallylift the ban on consolesis another factor driving stock prices, argues Okasan Securities senior strategist Takashi Oba. Investors are likely chomping at the bit for Nintendo to bring its wares to the untapped market, which boasts a population of more than one billion souls.
Nintendo rises as new titles spur overseas sales: Tokyo Mover[Bloomberg]
