Nintendo market value soars to 10 trillion yen
Kyoto (Japan) - Nintendo's market value has toppled an impressive 10 trillion yen barrier, a figure that is nearly triple what Nintendo was valued at before the launch of the Wii.
The high market value, which is a new high for the company, makes Nintendo the third most valuable corporation in Japan, behind Toyota and Mitsubishi. Earlier this year Nintendo was momentarily #1 on that list, but growth from the automotive and electric companies has pushed it back slightly. Japanese banks and analysts predict there is still plenty of room for Nintendo to grow. The 10 trillion yen figure is approximately equal to $85 billion. That puts it near the US equivalent of Disney, which is valued at around $80 billion.
Despite Sony's significantly greater presence in other markets, Nintendo's market capitalization is nearly double that of the Playstation maker. According to Reuters, Nintendo's growth represents a five-fold increase for the company in the past two years, thanks to the Wii phenomenon, which some originally thought would lead to the demise of the company's game hardware business.