Nintendo stock plummets 12 per cent

Yamauchi loses half a billion dollars.

UPDATE: Nintendo's stock rose during the afternoon session on the Osaka Securities Exchange. It finished down 12 per cent to 12,290 yen.

ORIGINAL STORY: Nintendo stock plummeted 21 per cent yesterday following the Japanese company's shock quarterly loss – the first in its history.

Former president Hiroshi Yamauchi, Nintendo's largest single shareholder, was reported to have lost a whopping half a billion dollars as a result.

Bloomberg said Yamauchi owned 14.17 million shares, or 10 per cent of Nintendo.

But don't feel too sorry for Yamauchi. He is Japan's sixth-richest man with an estimate fortune of $4.6 billion.

Nintendo, though, seems to be in a spot of bother. Yesterday it announced a 3DS price cut that will amount to about a third off the glasses-free 3D handheld in the UK.

Nintendo said it took the decision so it "will be able to create momentum for Nintendo 3DS and accelerate its market penetration toward the year-end sales season, when the line-up for the applicable software shall be enriched".

Nintendo sold fewer than one million 3DS units across the world between April and June this year.

Worldwide sales of the Nintendo 3DS were 0.71 million for the quarter. Nintendo shifted 4.53 million 3DS games.

For the first quarter of the 2012 financial year, Nintendo made a loss of 25.5 billion yen (£200m). The company blamed this on advertising the 3DS and research and development costs associated with the Wii U, due out next year.

Sometimes we include links to online retail stores. If you click on one and make a purchase we may receive a small commission. Read our policy.

Jump to comments (57)

About the author

Wesley Yin-Poole

Wesley Yin-Poole

Deputy Editorial Director  |  wyp100

Wesley is deputy editorial director of ReedPop. He likes news, interviews, and more news. He also likes Street Fighter more than anyone can get him to shut up about it.


Crysis 4 image appears ahead of official announcement

UPDATE: Crytek reveals first teaser, still "early" in development.

Feature | Someone should make a game about: Deafness

We're not talking about The Quiet Man.

Auto-upload of screenshots and videos to mobile coming to PS5

Previously tested feature now rolling out globally.

Call of Duty: Warzone 2 reports spark fan concern over what may be left behind

"Completely new game" said to ditch last-gen consoles.

You may also enjoy...

Supporters only

Comments (57)

Comments for this article are now closed. Thanks for taking part!

Hide low-scoring comments

Buy things with globes on them

And other lovely Eurogamer merch in our official store!

Eurogamer Merch
Explore our store