The company is now worth $42.5 billion (4.5 trillion yen), more than Sony (4.1 trillion yen), Canon (4 trillion yen), Panasonic (2.4 trillion yen) or Toshiba (1.3 trillion yen).
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Since July 7, the Kyoto-based company stocks have been revalued at 114.04 per cent.
Pokémon GO still isn’t available in Japan, with developer Niantic stating that a late July release is likely, due to the fact that the game’s servers simply wouldn’t cope with the demand. Barely two weeks ago, the price was only half that much. Following a day after the grievance of the outage of the game by players, the wicked programmer called “OurMine” claims the credit for hacking the server of Pokemon Go. Total turnover of Nintendo stocks on July 19 amounted to nearly $66 billion.
Japanese stocks jumped on a weaker yen and a Pokemon-powered rally in Nintendo shares but other world benchmarks were mostly lower Tuesday as investors awaited more corporate earnings and a European Central Bank policy meeting.
Nintendo had previously seemed reluctant to make a major push into mobile gaming, and more focused on protecting the market for its Wii and DS products.
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The market craze mirrors the take-off of the Pokemon GO phenomenon worldwide, with the app topping smartphone download charts – while there have also been warnings about its potential dangers. At the moment, Nintendo’s stock price is valued at 30, 780 Yen ($290) on Japanese Stock Exchange which is also the highest it has been in six years. With this, it beat Sony’s market value by more than 300 billion yen (approximately Rs 19,000 crore), AFP reported. This helped increased its value to investors who are now scrambling to acquire stocks of companies that develop Virtual reality or augmented reality products.
