Nintendo and other devs embroiled in Tokyo Stock Exchange fall

Losses for everyone

Nintendo

Things are looking rough for many tech companies at the moment with share prices plummeting left and right. The Tokyo Stock Exchange is not at all unaffected by the phenomenon with most of the large Japanese video game companies getting caught up in the general downturn.

Capcom shares dropped by 16%, those of Nintendo by 15%, and those of SEGA by 13% shortly before trading closed for the day, according to industry expert Dr. Serkan Toto. Korean company Nexon suffered double-digit drops as well with shares going down 13% in value.

Konami (-8%), Sony (-6%), Koei Tecmo (-6%), and Square Enix (-5%) managed to get through the day with single-digit losses.

The Tokyo Stock Exchange has been dropping for three days in a row, closing with the biggest drop since the 1987 market crash, according to Reuters. 

Nintendo’s shares have fallen to their lowest value this year after the company released a financial report showing a stark yearly decline of sales and lower operating profit – not wholly unexpected in the run-up to the release of a new console, but not helpful when it comes to the current market climate. 

Besides, Capcom’s recent forecasts looked all positive and the company still dropped heavily on the stock market. Details on its next big title, Monster Hunter Wilds, are expected to be shown off during Gamescom Opening Night Live 2024.

Major tech companies like NVIDIA, Alphabet, Apple, Meta, Amazon, and Microsoft had to tank similar losses over the past 24 hours.

Japanese game developers have been largely exempt from the economic woes of their western counterparts and did not contribute to the record layoffs across the industry so far.