Nintendo market value hits record high
October 15, 2007
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 nalysts have been heavily skeptical about the Wii's lifespan, some claiming last-gen graphics will see the console falling behind in due time. Seems they forgot to tell that to the stock market, which has been extremely kind to Nintendo in the past weeks. The company's shares have been rising rapidly, and closed at a record high today of ¥71,300 ($606).
Nintendo's total market value now stands at ¥10 trillion ($85 billion), putting it in the top three most valuable companies in Japan, and almost double the market worth of Sony's. Despite falling hardware sales of the Wii in recent weeks, Nintendo's share growth is likely due to the upcoming launch of Wii Fit and the news of Monster Hunter 3 appearing exclusively on the Wii, in addition to continued strong DS sales and high expectations for the holiday season for both Wii and DS demand.
Automaker Toyota Motor Corp sits safely as the most valuable company in Japan, while Mitsubishi UFJ Financial Group (Japan's largest bank) is second, a rank that could soon be claimed by Nintendo if current growth rate continues.
Source: Reuters
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