Nintendo Stock Rises After Acquiring Shares in Dwango

With a swift purchase of 612,200 shares in mobile web company Dwango, Nintendo’s stock sprung by over five percent to 13,070 yen in the Tokyo Stock Exchange today. This marks the highest point for Nintendo’s stock since August of this year.

Nintendo’s invested stake in Dwango fulfills the request of Dwango Chairman Nobuo Kawakami. According to Nintendo spokesman Yasuhiro Minagawa, this was for his personal funding needs.

Although Dwango provides a video delivery service for mobile phones, one that actually features Nintendo advertising already, Nintendo isn\’t planning utilize the system for selling mobile games. Promotion of Nintendo games through Dwango seems like it will continue as usual.

Several months ago, the Big N saw its stock rise by about four percent when it was expected to rejoin the Nikkei 225, a stock market index for the Tokyo Stock Exchange. However, when Nintendo was unsuccessful in doing so, shares in Nintendo dropped by over eight percent immediately afterward.

Dakota Lasky