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Nintendo Shares Rise On Expected Profit Announcement

Shares in Japanese gaming giant Nintendo have become the fastest-rising in the last three months on the Osaka Securities Exchange, with the DS and Wii's success edging the stock over $600, ahead of full year profit forecasts tomorrow.
Shares in Nintendo have become the fastest rising of any company in the last three months, on the Osaka Securities Exchange, with stock edging ever higher on expectations that the company will announced an increase in full year profit forecasts tomorrow. According to a Bloomberg report, Nintendo’s stock rose 7.8 percent to ¥68,800 ($602) at the close of trading yesterday – its largest gain since July 26th. Last month, Nintendo stock become the second most valuable in the whole of Japan thanks to the removal of Japan’s largest bank from the market during a share split. Shares in Nintendo have more than quadrupled over the last two years, more the doubling this year alone and becoming the biggest gainer on Japan’s Topix 100 Index. Analysts are predicting that the company’s full year net income predictions may be exceeded by up to 12 percent, up to a total of ¥273.4 billion ($2.39bn). Sales are also predicted to beat original estimates by 5.8 percent, according to a panel of Bloomberg analysts.

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