Nintendo shares drop 5 percent following TGS showcase
It seems Japanese investors weren't too thrilled by the presentation Nintendo put together for last night's Tokyo Game Show press conference. Despite revealing a new Mario Tennis, another Monster Hunter title, a firmware update and a different 3DS color, Nintendo's share price dropped to ¥12,290 by the end of trading yesterday -- a five percent day-to-day drop which some investors chalk up to a lineup that doesn't compete with the cheaper offerings of iOS and Android titles.
Speaking to Reuters, Ichiyoshi Investment manager Mitsushige Akino said, "Nintendo succeeded by pulling in people who weren't gamers and their needs now are no longer being filled by Nintendo, they are happy playing games on their mobile phones." We suppose Nintendo could combat further losses by making 3DS games cost 99 cents. Whatever they do, they should do it quickly, as Nintendo's stock has fallen 84 percent from its all time high of ¥70,500 in November 2007.
