Shares in Nintendo have risen to their highest level since April 2010 on the back of early success for the company’s latest tablet/console hybrid the Nintendo Switch.
Shares closed at ¥31,880 on May 24th ($285) after the company’s stock price continued its sharp rise since the Switch was launched on March 3rd 2017.
The company’s market value could rise yet further in the coming days.
The last time Nintendo’s share prices were nearly this high was following the launch of Pokemon GO when they rose to a high of ¥31,770 ($284).
The jump was short-lived however as investors began to realise that Nintendo’s stake Pokemon GO was relatively small, though still ultimately lucrative. A few weeks later share prices fell to as low as ¥20,715 ($185).
Nintendo’s Switch console has got investors and consumers excited again though.
The hardware sold 906,000 units in the US in March, making it the company’s fastest selling console ever. Overall, in its debut month the Switch sold 2.74 million units, banishing the memories of poor Wii U sales.
Mario Kart 8 Deluxe was the top selling game in the UK and US in April 2017, shifting as many as 550,000 copies in its first two days in the US. The figure includes retail and digital sales.
Nintendo reportedly plans to double production of Switch consoles to 16 million units during the fiscal year starting April 2017 due to strong demand.