Nintendo consumes mushroom, stock grows over 7%
Nintendo has enjoyed a healthy bump in its stock price. Thanks to a weakening yen and an upswing in the US job market, the company's stock was up 7.38 percent as of the market closing on March 8, up to ¥10,330 ($110). Other Japanese companies, as GamesIndustry.biz notes, have also benefitted from the improving US economy and weakening yen, including Sony, Konami, Capcom and Namco Bandai.
A weak exchange rate is good for Nintendo, as it improves the number of yen earned per US dollar spent on its products. The downward trend in yen value recently boosted Nintendo's financial outlook for its fiscal 2012, ending March 31, despite the company dramatically reducing its hardware sales target for the Wii U and 3DS.
