Money

Nintendo shares hit highest in 10 years

October 16, 2017

 

Nintendo shares rose to their highest level in 10 years on Tuesday (11). Near the closing of yesterday’s trading session on the Tokyo Stock Exchange, the company traded its shares for the equivalent of US $ 392.70 – accumulating a high of 1.47% on the day.

 

The rise in the value of the Japanese company’s stock, however, is not new and has been occurring since the beginning of this year. Only in 2017, the papers valued 77%, a reflection of the great popularity of the Nintendo Switch.

 

The video game has become the brand’s fastest selling device, smashing the all-powerful Wii, Big N’s best-selling console to date. The high demand for the hybrid has made its stocks depleted around the world, prompting consumers to step into gigantic waiting lines to have their Switch.

 

To ease the pain of waiting, this week Nintendo has finally revealed that it will increase the videogame production capacity to two million units monthly.

 

The Asian company has also adjusted its forecasts and has now said it expects to sell 20 million Switch by the end of 2017 – 7 million units more than the 13 million initially forecast.

Also contributing to the good mood of the market and shareholders are the first rumors that the Japanese are about to launch the Switch in China.

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