Capcom share slump as Nintendo buy-out dismissed
President breaks silence as wave crest vanishes
Despite disastrous financials, Capcom’s share price has been buoyant of late, due to heavy industry rumouring that Nintendo was poised to make a full acquisition of the firm early next year.
The gossip escalated as both firms erected a wall of silence, refusing to either confirm or deny the possibility of such a deal.
However, Capcom vice president Heiji Oshima denied the existence of such negotiations over the weekend, sending Capcom shares plummeting as the market woke up to itself.
Oshima denied that the firm is looking to partner, or be bought by anyone and stated that the firm’s financial records this year to date are not reflective of general business, but due to heavy losses posted in certain property dealings in which Capcom was involved.
He also stated that Capcom believes its Christmas line-up, at least in Japan, was strong enough to make a market impact. “More than 200 games are scheduled for release this holiday season, despite that superfluous supply we're confident in our line-up and progressing as planned.”
Despite this, Oshima failed to address the fact that Capcom’s multi-format release schedule was a bit bleak for the coming year on all platforms other than those made by Nintendo.
As ever, it doesn’t seem like the full picture was painted, but whatever happens, we’ll keep you fully updated.
The gossip escalated as both firms erected a wall of silence, refusing to either confirm or deny the possibility of such a deal.
However, Capcom vice president Heiji Oshima denied the existence of such negotiations over the weekend, sending Capcom shares plummeting as the market woke up to itself.
Oshima denied that the firm is looking to partner, or be bought by anyone and stated that the firm’s financial records this year to date are not reflective of general business, but due to heavy losses posted in certain property dealings in which Capcom was involved.
He also stated that Capcom believes its Christmas line-up, at least in Japan, was strong enough to make a market impact. “More than 200 games are scheduled for release this holiday season, despite that superfluous supply we're confident in our line-up and progressing as planned.”
Despite this, Oshima failed to address the fact that Capcom’s multi-format release schedule was a bit bleak for the coming year on all platforms other than those made by Nintendo.
As ever, it doesn’t seem like the full picture was painted, but whatever happens, we’ll keep you fully updated.
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