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Japan: Nintendo Becomes 2nd Most Valuable Company in Active Stock

ORIGINAL SOURCE

eptember 25, 2007

by: Tanner Smith

Shares in the company rose 3.1 percent Tuesday, placing Nintendo at #2.
Reuters is reporting that Nintendo has passed Canon Inc. to become Japan's second most valuable tradable company, just one spot behind current leader Toyota Motor Corp.

Investors are betting that demand for Nintendo's Wii and DS will remain solid throughout the holiday season. Despite offering lesser technology, the console has thus far trumped Microsoft and Sony's efforts by offering innovative motion controls for a cheaper retail price.

"At the Tokyo Game Show last week, Nintendo wasn't there officially. But there were a lot of software companies who are dedicating software to Nintendo platforms," KBC Securities analyst Hiroshi Kamide said.

"I think it's reasonable to think that this Christmas Nintendo strategy of catering to both core and casual gaming markets will succeed again," they continued.

Shares in the company closed up 3.1 percent to 59,200 yen on Tuesday, bringing its market value up to 8.39 trillion yen compared to Canon's 8.12 million yen. In comparison, Toyota currently sits at 24 trillion yen.

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