Nintendo now fifth-biggest company in Japan thanks to earnings surge |
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Thanks to a surge in DS and Wii earnings, Nintendo has pulled ahead of three other Japanese companies to become Japan's fifth-biggest company in terms of market value.According to Reuters, Nintendo's market value now stands at 8.69 trillion yen (US$72 billion). The Kyoto-based company's stock climbed a total of 11.6 percent after the company's earnings announcement. This put them on top of Sumitomo Mitsui Financial Group, telecoms giant NTT, and Honda Motor Co. in the list of Japan's biggest companies.
Nintendo has raised its operating profit forecast to 370 billion yen (US$ 3.1 billion) for the year until March 2008. The company has also lifted its annual dividend forecast to 960 yen (US$ 8). Earlier estimates have put it at 700 yen (US$ 5.9).
Via Reuters
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