Capcom’s stocks just hit a five-year high on the Tokyo Stock Exchange, and it looks like this has something to do with wiggle wands and Raccoon City.
It seems that Capcom (and its stock holders) are banking on the success of upcoming Capcom titles developed for the Nintendo Wii. Bloomberg says that Capcom stock rose 6.3 percent to 2,855 yen, its highest close since Sept. 26th, 2002. Shares have climbed 14 percent over the past two days and 33 percent this year.
Capcom expects sales to increase 11 percent this year as they’ve doubled the number of Wii games to six, which includes titles like We Love Golf and Resident Evil Umbrella Chronicles.
There’s a lot riding on the Resident Evil name, but Resident Evil 4 Wii edition sales numbers show that RE is a good fit for Nintendo’s console. This game was among the top 10 titles sold in Japan and the U.S. in June.
Resident Evil’s Wii edition has continued to sell well,” said Jay Defibaugh, an analyst at Credit Suisse Group in Tokyo who rates Capcom shares “outperform.”
Also, thoughts: Cowzilla’s C-blog has an interesting take on Capcom’s Nintendo love and how it has finally paid off from the Gamecube days.