Nintendo's Stock Reaches Historic High Amid Switch 2 Speculation and Saudi Investment Rumors

Nintendo's stock price soared to a record high, driven by anticipation of the upcoming Switch 2 console and potential investment from Saudi Arabia. The company's market capitalization briefly surpassed ¥10 trillion, a milestone not seen since 2007. The surge in stock price, which rose 5% to ¥7,902, was fueled by expectations of a new console release by the end of the year and speculation about further investment from Saudi Arabia's Public Investment Fund, which already holds an 8.26% stake in Nintendo. The success of Nintendo's intellectual property business, including theme park attractions and the highly successful Super Mario Bros movie, also contributed to the stock's rise. As a result, Nintendo's growth helped push the Nikkei Stock Average to its highest level since 1990, with a 2.01% increase. Analysts predict the new console will be an iterative update rather than a revolutionary change, with potential pricing at $400 and games costing $70.