Pokemon powers up Nintendo to become one of Japan’s top 20 companies
The success of Pokemon Go has powered Nintendo into becoming one of Japan’s top 20 companies after seeing its share price skyrocket by 90 per cent within eight days of the app taking the world by storm.
A surge of nine per cent on Friday alone saw Nintendo breach the top 20, overtaking industrial giant Mitsubishi, financial giant Nomura and retail conglomerate Fast Retailing in the process.
It comes as analysts estimate that Pokemon Go could become the first smartphone game to generate $4bn in annual revenues amidst feverish expectations that the viral title will eclipse previous record holder Candy Crush, which recorded a sales record of $2bn per year.
Further astronomical success is virtually guaranteed ahead of the titles launch in Nintendo’s home turf of Japan, which some believe could occur on Saturday or (more likely) next week.
It is unclear precisely how much of this cash will wind its way to Nintendo directly however as it generates revenue through a 33 per cent stake in the Pokemon Company and a 5-10 per cent share in the game developer Niantic.
Investors have been busily upgrading their sales forecasts for future smartphone products released by Nintendo.