Nintendo is Breaking Japanese Stock Market Records
Last week Nintendo had its highest weekly gain ever at 71%. This week the company is making Topix (Tokyo stock market) history.
According to Bloomberg, Nintendo traded 476 billion yen, or $4.5 billion, worth of shares on Friday. This is the biggest daily turnover for any company in the Topix index this century. Nintendo even beat out major Japanese companies like Tokyo Electric, SoftBank (yes, SoftBank), and Aiful.
This turn of events is in response to the phenomenon that is Pokémon Go. The interesting part though is that Nintendo does not even own publisher The Pokémon Company or developer Niantic. Nintendo only holds steak in both companies, though the relationship between Nintendo and Pokémon has been strong since the beginning of the franchise.