Nintendo Rocking Japanese Stock Market
by Carlos Bergfeld, Sep 25, 2007 2:35pm PDTDespite its absence at last week's Tokyo Game Show, this week Nintendo became the second most valuable active stock on the Tokyo Stock Exchange, Reuters reports. With a market cap of $72.8 billion, the company is second only to Toyota's $208 billion market value. A technicality could be responsible for Nintendo's high placement as well, as trading of the potentially more valuable Mitsubishi UFJ Financial Group was suspended this week in preparation for a planned split of the stock. Regardless, Nintendo recently reclaimed its long-absent top spot in the console race, with worldwide Wii sales of 9 million consoles. In comparison, Microsoft's second-place Xbox 360 sold 8.9 million units worldwide as of July, with a one year head start on Nintendo's console. Nintendo's stock has quadrupled over the past two years following the wildfire sales of the DS and Wii, the Reuters story reports.
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