Nintendo stocks rise after buying shares in Dwango

<p>Nintendo saw stocks rise to the highest level since August after buying shares in Dwango.</p>

Japanese games developer Nintendo has seen its stocks rise to the highest level seen since August.

The rise came after it bought 612,200 shares in the mobile content company Dwango, according to a statement filed to the Tokyo Stock Exchange.

Stocks for the game company, famous for popular titles such as Super Mario Bros and the Legend of Zelda, rose by as much as 5.2 per cent to 13,070 yen before the trading break in Tokyo at 11:30 local time. Additionally, Dwango saw its own stocks rise by 21 per cent.

Nintendo company representative Yasuhiro Minagawa said Dwango would be used to promote titles from the gaming giant and that, at present, there are no plans to distribute through Dwango's video delivery service known as NicoNico.

As a whole, Japan saw stocks rise on Friday morning (November 15th) although the yen fell. Among other companies that saw an increase in shares was Sony Corp, who rallied 4.4 per cent ahead of its Playstation 4 launch.

Learn about the Asian markets and CFD trading at City Index

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.