Sponsored By

Nintendo Surprises Investors With Stock Repurchasing Plan

<a href="http://www.nintendo.com">Nintendo</a>, looking to improve its return on equity and stave off any possible hostile takeover, announced that it plans to buy back about 10% of its outstanding stock, amounting to 14 million shares.

Game Developer, Staff

April 19, 2001

1 Min Read

No indication was given as to when this stock repurchasing program would occur. Nintendo President Hiroshi Yamauchi stated, "We have more than 800 billion yen ($6.5 billion) in cash and deposits, which is just too much. We aim to boost our return on equity by a share buyback." News of the buy-back plan was greeted with enthusiasm by investors, sending Nintendo share price up 8% on the day. Its shares have gained 33% over the past 12 months.

Daily news, dev blogs, and stories from Game Developer straight to your inbox

You May Also Like