Nintendo's market value has jumped over the 10 million yen mark today, putting it in league with Toyota and Mitsubishi as one of the most valued Japanese companies.
If you're looking at the figure of 10 trillion yen and not sure what to make of it, it translates into $85 billion or £41.7 billion. The jump comes following a 4.6 percent jump in the value of its shares at 4:34 (GMT) this morning.
While Nintendo still only has half the market cap of Toyota (23 trillion yen), it is 80 percent higher than that of Japanese rival Sony, despite the company having revenues that are more than eight times those of Nintendo.
The rise in share value has been attributed to the announcement of Wii Fitness's release on December 1st in Japan, along with conventional wisdom which tells us that the Wii and DS are going to make a small fortune over Christmas.
Nintendo became the second most valuable company in Japan for a while at the end of September while trading of Mitsubishi shares was suspended.
Source: Reuters
If you're looking at the figure of 10 trillion yen and not sure what to make of it, it translates into $85 billion or £41.7 billion. The jump comes following a 4.6 percent jump in the value of its shares at 4:34 (GMT) this morning.
While Nintendo still only has half the market cap of Toyota (23 trillion yen), it is 80 percent higher than that of Japanese rival Sony, despite the company having revenues that are more than eight times those of Nintendo.
The rise in share value has been attributed to the announcement of Wii Fitness's release on December 1st in Japan, along with conventional wisdom which tells us that the Wii and DS are going to make a small fortune over Christmas.
Nintendo became the second most valuable company in Japan for a while at the end of September while trading of Mitsubishi shares was suspended.
Source: Reuters
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Comments
Mingus Cheeseworth 15 Oct 2007 10:38
1/5
Nintendo is now worth 10 million yen? By today's rates that's about 41 and a half grand in the UK. I think there may be a typo here...
Plasmoid 15 Oct 2007 11:16
2/5
Somone forgot a couple of zero's.
10,000,000 Yen is not the same as 10,000,000,000 Yen
10,000,000 Yen is not the same as 10,000,000,000 Yen
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deleted 15 Oct 2007 11:24
3/5
This is interesting the share value has rocketed since the launch of the DS and the Wii and the Wii still isnt meeting demand, so what will nintendo see when the demand is being met?, also with AAA titles around the corner for Nintendo 2008 Will be and interesting year indeed.
Carlos Arias 15 Oct 2007 11:28
4/5
They meant to say TRILLION, not million. A trillion yet is ust over 40 billion in pound sterling and double that figure in US dollars.
Nintendo is a little money making machine. Good on them.
Nintendo is a little money making machine. Good on them.
Spinface 15 Oct 2007 16:39
5/5
Mingus Cheeseworth wrote:
Nintendo is now worth 10 million yen? By today's rates that's about 41 and a half grand in the UK. I think there may be a typo here...
There was indeed. Thanks for pointing it out. 'Tas been amended.