Nintendo shares plunge

AFP, TOKYO: Shares in Japanese videogame giant Nintendo plunged as much as 10 per cent yesterday, weighing on Tokyo’s broad-based Topix index, after saying it would delay the rollout of a smartphone game seen as crucial to its future.
The Kyoto-based firm’s new president Tatsumi Kimishima said it needed more time to “boost the quality” of its first smartphone offering, called Miitomo, and would not launch it until March—after initially aiming for the end of this year.
Soon after the announcement Nintendo’s stock price dropped 10 per cent. It recovered some ground to close 8.97 per cent lower at 20,945 yen.
Mobile gaming company DeNA, which Nintendo developed the game with, plummeted 14.93 per cent to 2,080 yen.
Nintendo bought a stake in Tokyo-based DeNA as part of a deal to develop smartphone games based on its host of popular characters, possibly including Super Mario and Donkey Kong. Nintendo shares soared more than 20 per cent on the day the deal was announced.

Nintendo shares plunge

AFP, TOKYO: Shares in Japanese videogame giant Nintendo plunged as much as 10 per cent yesterday, weighing on Tokyos broad-based Topix index, after saying it would delay the rollout of a smartphone game seen as crucial to its future. The Kyoto-based firms new president Tatsumi Kimishima said it needed more time to boost the quality of its first smartphone offering, called Miitomo, and would not launch it until Marchafter initially aiming for the end of this year. Soon after the announcement Nintendos stock price dropped 10 per cent. It recovered some ground to close 8.97 per cent lower at 20,945 yen. Mobile gaming company DeNA, which Nintendo developed the game with, plummeted 14.93 per cent to 2,080 yen. Nintendo bought a stake in Tokyo-based DeNA as part of a deal to develop smartphone games based on its host of popular characters, possibly including Super Mario and Donkey Kong. Nintendo shares soared more than 20 per cent on the day the deal was announced.