The last news:Fri, Jul 29, 2011 | 07:33 BST

Nintendo stock plummets 21 percent

Investors haven’t taken Nintendo’s latest announcements well; its share prices have fallen by a fifth in the wake of poor first quarter financial results and a 3DS price cut.

Bloomberg reports Nintendo’s stock price had fallen by up to 21 percent to ¥11,010 by mid-morning on Friday, local time.
Nintendo stock had already taken a beating over the Wii U announcement hitting its lowest point in five years at 16,930 yens. Not a record Ninty was looking to smash.
Former CEO Hiroshi Yamauchi, Japan’s (possibly former) sixth-richest man and great-grandson of Nintendo’s founder, is estimated to have lost 42 billion yens – $540 million – as a result of the investor panic.
On Thursday, Nintendo announced it would cut the 3DS price up as much as a third across all territories in August. The platform holder reported dramatic sales decreases and continued losses in its first quarter.

Source: http://www.vg247.com/2011/07/29/nintendo-stock-plummets-21-pe...

By Kazuyo Sawa - Jul 29, 2011 4:43 AM GMT-0300

Nintendo Stock Rout Costs Billionaire Yamauchi $300 Million in Single Day

Former Nintendo Co. President Hiroshi Yamauchi’s wealth may have plunged more than $300 million today after the flop of the 3DS player forced the company to slash its profit forecast.
The value of Nintendo shares held by Yamauchi, the company’s largest single shareholder and great-grandson of the founder, tumbled 24.2 billion yen ($312 million) after the stock’s plunge today in Osaka trading. Yamauchi, 83, owned 14.17 million shares, or 10 percent of Kyoto-based Nintendo, as of March 31, according to regulatory data compiled by Bloomberg.
Nintendo yesterday said it will cut the price of the five- month-old 3DS by as much as 40 percent to spur demand for the handheld player, and it slashed its profit forecast 82 percent. Satoru Iwata, who succeeded Yamauchi as president in 2002, is facing mounting competition from Apple Inc. (AAPL)’s iPhone and iPad, and online games played on Facebook Inc.’s service.
Yamauchi, who ran Nintendo for 53 years, was Japan’s sixth- richest man with an estimated fortune of $4.6 billion, according to Forbes magazine’s latest rich list. The former owner of the Seattle Mariners baseball team led the Forbes Japan rich list in 2008.
Nintendo officials weren’t immediately available to comment on whether Yamauchi’s holdings in the company have changed since March 31.
Nintendo plunged 12 percent to 12,290 yen as of the 3:10 p.m. close on the Osaka Securities Exchange. That’s the biggest drop since January 2009.

Source: http://www.bloomberg.com/news/2011-07-29/nintendo-s-yamauchi-...

All is lost! All is lost!

Oh come on It'll be fine. These numbers mean nothing in July. Wait until the holidays.
It'll pick up.

I don't think that only a price drop is enough. 3DS needs urgent of more interesting games. I think remakes of old games like Zelda OoT and Star Fox 64 is not enough to hook potential customers.

As Link79 said, wait for the holidays. there is remakes coming too but there's also many other games coming like Super Mario 3D Land and Mario Kart 7 on holiday season. And there's going to be more games next year: Kid Icarus (I'm from Finland, so it's next year for me), Paper Mario, Luigi's Mansion 2, etc.

Which is exactly what Link said. The holidays will have two new 3DS Mario games and a brand new Zelda game on the Wii.

It looks like Iwata is taking responsiblity for the 3DS's performance by slashing his own salary, according to this tweet.

gibbogame David Gibson
Iwata taking responsibility for 3ds,, taking 50% salary cut and other execs 30% cut, reduced bonuses too.
http://twitter.com/#!/gibbogame

Iwata's salary was $767,313 and now $383,656. He must be one humble man.

And as far as the topic, just wait for Fall, especially Chirstmas.

Hopefully now they'll get off their high-horse and put out better games and consoles that are affordable. They're already lowering the price of the 3DS so I guess there's hope.

More news:
Fri, Jul 29, 2011 | 13:36 BST

Iwata owns 3DS issues, halves his salary in the process

During a meeting with shareholders in Tokyo, Nintendo president Satoru Iwata took responsibility for 3DS sales, the price-cut , and also announced he is going to cut his own salary in half as part of a cut in fixed salaries.
Iwata told shareholders the 3DS price reduction will help with the end-of-year sales period at retail, as well as keep developers interested in the handheld after various game cancellations.
“For cuts in fixed salaries, I’m taking a fifty percent cut, other representative directors are taking a 30 percent cut, and other execs are taking a 20 percent cut,” said Iwata.
Iwata’s salary hits at around $2 million a year, while Shigeru Miyamoto’s hits at $1.2 million. Bonuses will also be reduced.
After the price cut and less-than-stellar quarterly results were announced yesterday, stock in Nintendo fell 21 percent, which caused former Nintendo president Hiroshi Yamauchi to loose an estimated ¥42 billion ($540 million).
Iwata also admitted Nintendo missed a price cut opportunity with GameCube, and this influenced the firm’s decision to cut the price of 3DS with the cash balance enabling the decision.
“We decided that if we take brave measures now, there’s high likelihood that a many players can enjoy the Nintendo 3DS in the future.”

Source: http://www.vg247.com/2011/07/29/iwat...n-the-process/

3DS sells are down now, but by christmas it'll be like shootin a bullet bill in the air! Mario Kart 7 will fix it along with with Super Mario 3D Land, Kid Icarus,etc.

Taken from CCTV, Nintendo HQ:

I think people take too much important in the short term stock price. The good thing about the price drop is that they actually have to start taking more consideration in the games they release.

To bad for Nintendo I guess. But it seems to be awesome for consumers, I'm getting 20 games for free and 2 awesome retail titles by the end of the year. Plus the ones that haven't bought a 3DS can get it cheap as chips now.

Good for consumers, not so good for investors

As a Nintendo consumer and investor, I don't know whether to be ecstatic or worried!! =0

I'm more on the happy side, though, as I'm loving my 3DS and greatly looking forward to this fall lol

oh noz were dooomded, come on people honestly nintendo isnt in trouble, they dont need to go 3rd party and they dont need to make iPhone games

This is what I've been saying. I bet Mario Kart/Mario would never have made it out this year if it wasn't for the crappy launch of the system. Nintendo didn't take the launch seriously enough, pretty much. It's still a good system

It's not Nintendo's fault that the end of the world is coming.
Seriously, there's a lot going on here that Nintendo really doesn't have control over.

Bad moments and good moments happen when time passes. Well, the 3DS hasn't got any of my favorite games so far. I am busting for mario kart 7.

Think they have financial trouble?. Wait after they release the Wii U and after a few months they have to cut prices to a reasonable price in order to reach the masses. They will have to sustain losses for a very long time.

At least for now Nintendo its safe again...

I´m not a huge fan and i prefer other plattforms.

I think every big company that exists nowadays has it share of problems to solve and will have to adapt and overcome to survive the world wide crisis.