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It seemed like only last week when we reported that the total value of Nintendo stock on the Tokyo Stock Exchange had made the company into the second largest provider of consumer electronics in the world, only behind Sony's combined value of 6.64 trillion yen. Well, here's a news flash: it was only last week, and furthermore, Nintendo managed to overtake Sony before the end of trading today.
Bloomberg reported yesterday that Nintendo stock rose to a record value of 46,350 yen per share, giving it a total value of 6.57 trillion yen (NZ$69.4 billion). Within that same time frame, the total value of Sony stock dropped to 6.48 trillion yen, which allowed Nintendo to grab the top spot as the world's largest manufacturer of consumer electronics, albeit briefly. At the end of trading today, Nintendo stock closed at a lower final price of 45,350 yen.
Although both companies have been gaining in value over the past few months, Nintendo's value appears to be surging at a much faster rate, due to the immense success of Nintendo hardware ever since the introduction of the Wii. The sudden interest in Nintendo stock has allowed Mizuho Securities analyst Takeshi Koyama to re-rate the company from "neutral" to "moderately bullish".
"Nintendo's strength is its ability to create a new market," the analyst said.
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