Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Japan
  4. Japan Exchange
  5. Nintendo Co., Ltd.
  6. News
  7. Summary
    7974   JP3756600007

NINTENDO CO., LTD.

(7974)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Nintendo CEO who broadened video game appeal dies of cancer

07/13/2015 | 06:46am EDT
Iwata attends an interview in Tokyo

TOKYO (Reuters) - Nintendo Co Ltd (>> Nintendo Co., Ltd) Chief Executive Satoru Iwata died of cancer on Saturday, months after he led the Japanese video-game maker's belated entry into mobile gaming following years of declining sales. He was 55.

TOKYO (Reuters) - Nintendo Co Ltd (>> Nintendo Co., Ltd) Chief Executive Satoru Iwata died of cancer on Saturday, months after he led the Japanese video-game maker's belated entry into mobile gaming following years of declining sales. He was 55.

The death of the hands-on CEO and president, announced by Nintendo on Monday, comes at a critical time for the company which is betting that its new smartphone tie-up with online game maker DeNA will help make up for declining console sales.

Iwata long resisted investors' calls to move into mobile games for fear of cannibalizing Nintendo's traditional console base. He announced the move in March as stiff competition from console rivals and mobile games continued to drag on sales.

The company did not announce a replacement but Genyo Takeda, senior managing director and one of the lead developers of Nintendo's Wii console, will lead the committee for Iwata's funeral - a sign he could be taking on the leadership role.

"They say it's not yet decided who the next CEO will be, so there's a slight uncertainty," Japan Asia Securities deputy general manager Mitsuo Shimizu said. "This comes just as we saw a glimmer of hope for the company."

Nintendo has forecast it would double annual operating profit in the year through March thanks to the DeNA tie-up.

Despite some concerns over succession, Kyoto-based Nintendo's shares rose 1.49 percent, in line with the broader Tokyo market <.TOPX>. Deutsche Bank analyst Hanjoon Kim maintained a "buy" rating on the shares and said Takeda and other long-serving board members would likely ensure stability.

GAMER AT HEART

Takatoshi Itoshima, chief portfolio manager at Commons Asset Management, said the main task for the next CEO would be to carry out Iwata's smartphone project.

"The next goal for the management is to carry this on,” he said.

Takeda and fellow senior managing director Shigeru Miyamoto, creator of the Mario and Donkey Kong hit games, will be the sole remaining representative directors.

Iwata had surgery in June last year to remove a growth in his bile duct and had returned to work. He attended an annual shareholders' meeting on June 26, but his condition suddenly deteriorated in the last few days, Nintendo said.

Iwata's main legacy was broadening the appeal of video games with the bestselling Wii, which included fitness titles and fantasy battles. Gaming fans took to Twitter to mourn his death, and even rival Sony Corp's (>> Sony Corp) PlayStation account said: "Thank you for everything, Mr. Iwata."

Iwata, who became president in 2002 at the relatively young age of 42, was the first CEO from outside the founding Yamauchi family.

Hooked on computer programming in high school, Iwata told developers he was a "gamer at heart". In his later years, though, he came under pressure from investors amid competition from Sony and Microsoft (>> Microsoft Corporation) and a shift in casual gamers to smartphones.

(Additional reporting by Chang-Ran Kim, Yoshiyuki Osada and Ayai Tomisawa; Editing by Stephen Coates)

By Ritsuko Ando

Stocks treated in this article : Microsoft Corporation, Nintendo Co., Ltd, Sony Corp

ę Reuters 2015
Stocks mentioned in the article
ChangeLast1st jan.
BASE CO., LTD. 0.00% 5150 End-of-day quote.-16.26%
BASE, INC. 1.08% 1214 End-of-day quote.-37.81%
HOPE, INC. 0.62% 489 End-of-day quote.-89.12%
MICROSOFT CORPORATION -1.86% 294.3 Delayed Quote.32.32%
NINTENDO CO., LTD. 1.85% 53470 End-of-day quote.-18.78%
SONY GROUP CORPORATION 0.37% 12315 End-of-day quote.19.74%
THE LEAD CO., INC. -0.44% 673 End-of-day quote.-19.88%
All news about NINTENDO CO., LTD.
09/17Japanese shares post 4th weekly gain on catch-up trade, chipmakers boost
RE
09/15Japanese shares slip as investors take breather after recent rally
RE
09/15Tranche Update on Nintendo Co., Ltd.'s Equity Buyback Plan announced on Augus..
CI
09/14GLOBAL MARKETS LIVE : Intuit, Walmart, Qualcomm, Alibaba, Oracle...
09/14Nintendo Co., Ltd.'s Equity Buyback announced on August 5, 2021, has closed w..
CI
09/07Japanese shares end higher on economic recovery hopes
RE
09/06Nikkei hits five-month high on hopes new PM will propel recovery
RE
09/02Topix scales over 5-month high as tech rally offsets transport share slump
RE
09/01Topix retreats from 5-month high as JR West, other transport stocks slump
RE
08/19Nikkei slides to 7-month low as Toyota drags peers, other cyclicals
RE
More news
Analyst Recommendations on NINTENDO CO., LTD.
More recommendations
Financials
Sales 2022 1 755 B 16 021 M 16 021 M
Net income 2022 455 B 4 152 M 4 152 M
Net cash 2022 1 611 B 14 709 M 14 709 M
P/E ratio 2022 14,1x
Yield 2022 3,55%
Capitalization 6 273 B 57 303 M 57 262 M
EV / Sales 2022 2,66x
EV / Sales 2023 2,67x
Nbr of Employees 6 574
Free-Float 85,6%
Chart NINTENDO CO., LTD.
Duration : Period :
Nintendo Co., Ltd. Technical Analysis Chart | 7974 | JP3756600007 | MarketScreener
Technical analysis trends NINTENDO CO., LTD.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 53 470,00 JPY
Average target price 71 673,33 JPY
Spread / Average Target 34,0%
EPS Revisions
Managers and Directors
Shuntaro Furukawa President & Representative Director
Ko Shiota Director, GM-Technology & Development
Satoru Shibata Director, General Manager-Sales & Operations
Hajime Murakami General Manager-Administration & Head-IR
Katsuhiro Umeyama Independent Outside Director
Sector and Competitors
1st jan.Capi. (M$)
NINTENDO CO., LTD.-18.78%57 088
EMBRACER GROUP AB (PUBL)-5.11%10 901
KOEI TECMO HOLDINGS CO., LTD.22.57%8 983
CD PROJEKT S.A.-32.86%5 025
STILLFRONT GROUP AB (PUBL)-33.65%2 772
INTERNATIONAL GAMES SYSTEM CO.,LTD.-12.40%1 684