Nintendo Stocks Plummet, Ex-Nintendo Prez Loses a Lot of Money - News
by VGChartz Staff , posted on 29 July 2011 / 3,404 Views
Following recent reports of Nintendo's market dominance slipping, Bloomberg is now reporting that Nintendo's stock has dropped 12 percent to 12,290 Yen as of 3:10pm - the close on the Osaka Securities Exchange. This is also the biggest drop for Nintendo since January 2009.
The report also states that former Nintendo president Hiroshi Yamauchi's wealth may have plunged more than $300 million (24.2 billion Yen) in a single day, due to the firm's stock massive drop.
Yamauchi, great-grandson of the founder of Nintendo, owns the highest share of videogame giant at 14.17 million shares or about 10 percent of the whole company. He ran Nintendo for 53 years before being succeeded by Iwata and is also the sixth-richest man in Japan, having an estimated fortune worth $4.5 billion according to Forbes.
Will Nintendo's fortunes fare for the better once the Wii U is released?
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I wouldn't dare dream if he owned more than 51% of Nintendo...
About the loss... it's not like he had to deliver 300M back to the bank, it's just that his share now is less valuable than it was before the plummet... As he will keep that share with him in 6 months the value will be up and his 300M will be back with more... the price won't matter unless he decided to sell (i bet that with his fortune he would buy more at this lower price show confidence in the company and force the share up)...
What matter is that with his 10% share is the profits not the market value of the company, silly analysis
But it get more views this way
"Oh, yeah, I just lost $300m. A pity, really."
Few people can say that.
Funny, You can... me too...
Time to prepare to buy Nintendo stocks before WiiU launch?
Wii and DS are beyond just good design, they are strokes of genius, not easy to repeat, not granted by just trying hard. Nevertheless, doing things well, Ninty can survive and thrive anyway, until its next stroke of genius comes. But it's sad that Ninty wasted so much of the Wii potential, leaving it unexpressed and killing one of its two golden geese so early.
lol Nintedogamer you are pushing it.
Nintendo has a huge pile of cash and they are hardly loosing any money.
The real thing to fear is that with the current bad performances the stock will keep going down for a while...
As for Wii U, the real fear is that it will be released and it won't be well received...
I think Nintendos domination of both console and handhelds is over, that said I think they'll still beable to make a decent profit and be successful they just have to try harder then before like Sony did after the ps3s disappointing launch, now Sony is coming out with the most good games out of everyone
We shouldnt worry they have a Net worth of at least 85 Bill US
I'm worried that Wii U wont be released and Nitnendo will face extinction with all the money they are losing ,bankruptcy can't be far off now :(
You're not serious? With the kind of warchest they developed, they could stave off bankruptcy for some time, especially since their business model will recover (even at a lower sales level) once they get all this R&D junk out of the way
They seem to be constantly losing money and with Wii u ti
OMG this thing is messed up when I reach the end of the line this scroll bar comes up and I can't see anything! and type at all
OMG this thing is messed up when I reach the end of the line this scroll bar comes up and I can't see anything! and type at all
Nintendo has money and lots of it. They aren't Sega, who was already broke and on the verge of collapse by the time Dreamcast was released.
