Nintendo Stock Rises By 11%
Posted by Andy Green
The largest increase since 2008
The Japanese yen has reached a three-year low against the euro meaning many successful exporters are enjoying a rise in stock.
Nintendo has seen an 11% rise in stock value, which now stands at 11,850 yen, the largest gain since 2008.
The yen has weakened against all 16 major counterparts this year as speculation surrounding the Bank of Japan’s prospective quantitative easing initiatives continue.
The Topix advanced 1.7% today to close at 1,121.04 in Tokyo, with around two stocks rising for each that fell.
Nintendo relies on Europe for a third of its sales and the weak yen is allowing it to prosper, at least for now. Things could soon change as the central bank is set to make its next policy announcement on 26th April.
The Japanese games market recently returned to growth, so the future is also looking bright on domestic soil too.
What are your thoughts on Nintendo's financial situation? Let us know in the comments section below.