Company shares reach their highest level in 45 years of existence on the Osaka exchange.
You know that Nintendo is doing well when it needs to raise earnings estimates four times in one fiscal year. Now we have official word on the company's financial success from a group of people that are very, very important to Nintendo: Its stockholders.
Nintendo's stock price on the Osaka Securities Exchanged closed at 37,450 Yen ($312.62) a share earlier today. That's the highest it's been in the company's history, or at least since it was listed on the Osaka boards in 1962. If Nintendo's revenue and profit levels continue to grow like they have been since the Nintendo DS hit the streets, the stock will look even more favorable to investors, and the price will continue to increase.
According to a Bloomberg report, JPMorgan analysts are banking on a 15% increase in that price over the next year. The investment firm has tagged Nintendo's stock with an “overweight" rating, meaning that it expects a greater-than-average return on investment over the next six to 12 months.
This news comes a week ahead of the day Nintendo reveals their company financial statement for its 2007 fiscal year, which concluded at the end of March.