Nintendo Stocks Fall by 18 Percent After Projected Losses Revealed
Projected losses lead to company shares suffering in the Tokyo Stock Exchange.
Following the latest Nintendo financial reports, where the company projected a $335 million loss, BBC is reporting that stocks at the Tokyo Stock Exchange fell by 16 percent to ¥11,935 a share earlier today.
It was stated many times before the 2013 Holiday season that Nintendo would have to work hard to increase revenue lest its console be in some very serious trouble for the future. Now, analysts believe Nintendo should bite the bullet and move to formats such as mobile in order to survive.
Despite these losses, current president Satoru Iwata stated that there would be no major shake-up in management and that he would not resign until Nintendo’s fortunes have been reversed.
At this rate, it’s still a bit early to predict doom the company, especially since the Nintendo 3DS is as hot as ever (it was the overall best selling platform in 2013 according to the latest NPD reports). However, if none of this serves as a wake up call to the house that Mario built, then expect it get worse before it gets better.