Nintendo buys stake in mobile content company
Stock prices rise following purchase of NicoNico parent company shares
Nintendo stock rose over five percent on Thursday, following an announcement that the platform holder acquired a significant stake in Japanese telecommunications company Dwango. The 612,000 share purchase resulted in a healthy boost for the mobile content producer as well, inciting a 21 percent increase on the Tokyo Stock Exchange.
While Nintendo uses Dwango's popular NicoNico platform as a means of promotion for its software, the company maintains it has no plans to distribute software on mobile devices. Nintendo spokesman Yasuhiro Minagawa asserts the move stemmed from a personal request made by Dwango chairman Nobuo Kawakami, rather than any sort of machinations of targeting the smartphone market.
Nintendo Rises After Buying Stake in Web Company Dwango [Bloomberg] Setup email comments
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