Nintendo becomes fifth most valuable Japanese company on the back of first quarter results
Friday 27th July 2007, 05:05:00 PM, written by Carl Bender
After reporting impressive quarterly results earlier this week, Nintendo has ridden a rise in its share price that has seen it
become the fifth most valuable company in Japan, with a market
capitalization now hovering around $72 billion. The company's
meteoric share rise in recent months sees Nintendo surpass industry
giants such as Honda, Nippon Telegraph and Telephone (Japan's largest
telecom company), and Sumitomo Mitsui Financial Group in value.
Along with quarterly net income figures that were 400% above last year at ~$652 million, Nintendo raised year-end guidance by an impressive 37-percent, stating that for the the fiscal year ending March '08, they expect to earn 370 billion yen; roughly $3.1 billion US and well above previous analyst consensus numbers. Nintendo also aims to have shipped 16.5 million Wii consoles and 26 million DS Lite handhelds during this period, production and sales of which have both been enormous profit generators for Nintendo.
Along with quarterly net income figures that were 400% above last year at ~$652 million, Nintendo raised year-end guidance by an impressive 37-percent, stating that for the the fiscal year ending March '08, they expect to earn 370 billion yen; roughly $3.1 billion US and well above previous analyst consensus numbers. Nintendo also aims to have shipped 16.5 million Wii consoles and 26 million DS Lite handhelds during this period, production and sales of which have both been enormous profit generators for Nintendo.
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