Nintendo to buy back shares from the West
Western instability causes Nintendo retraction
Nintendo of Japan has announced it will undertake an aggressive stock ‘buy back’ policy from the West. The company feels that its assets are best ‘stored’ in Japan at this point in time.
Following recent terrorist attacks in New York and Washington, Nintendo’s share price has been fluctuating uncontrollably. In order to boost market confidence and up the stock valuation, Nintendo’s head office has outlined plans to buy almost 10% of the company’s entire asset base. This works out at 14 million share units.
At the current price, Nintendo is expected to fork out around $2 billion to the market for the shares. This is the biggest example of financial wrangling the industry has ever seen and coincides with the run up to a planned revision in US trading laws that would prohibit such a move.
The news boosted Nintendo’s value by around 7%, leaving Nintendo shares being traded on the open market for a healthy $144 each.
Following recent terrorist attacks in New York and Washington, Nintendo’s share price has been fluctuating uncontrollably. In order to boost market confidence and up the stock valuation, Nintendo’s head office has outlined plans to buy almost 10% of the company’s entire asset base. This works out at 14 million share units.
At the current price, Nintendo is expected to fork out around $2 billion to the market for the shares. This is the biggest example of financial wrangling the industry has ever seen and coincides with the run up to a planned revision in US trading laws that would prohibit such a move.
The news boosted Nintendo’s value by around 7%, leaving Nintendo shares being traded on the open market for a healthy $144 each.
Companies:
Nintendo
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