Switch 2 and Oil Investments Propel Nintendo to Unprecedented Stock Heights

Nintendo shares hit a record high on Wednesday, with the company’s market capitalisation surpassing 10 trillion yen ($69 billion) for the first time since November 2007.

The surge in Nintendo’s shares coincided with Japan’s Nikkei Stock Index reaching its highest level since February 1990.

Several factors contributed to Nintendo’s record high, including the anticipated launch of a new console, high expectations for the company’s expanding IP business, and speculation that oil money is set to acquire more Japanese game stocks.

Nintendo’s Switch successor is widely expected to launch this year, with development kits already in the hands of key partner studios.

Nintendo is expanding its theme park presence with a new Donkey Kong Country section at the Super Nintendo World themed area of Universal Studios Japan. Additionally, a Legend of Zelda movie is in the works following the success of the Super Mario Bros. Movie.

Saudi Arabia’s Public Investment Fund (PIF) recently raised its stake in Dynasty Warriors and Ninja Gaiden publisher Koei Tecmo from 5.56% to 6.60%, and also owns 8.58% of Nintendo shares, making it one of the company’s largest shareholders.

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