TOKYO: Nintendo on Tuesday shot past Sony in market value after the videogame giant’s stock more than doubled since the release of the wildly popular Pokemon Go game.
The Pokemon franchise creator surged nearly 11 percent to end the morning at 30,780 yen ($290), up more than 100 percent from its July 6 close.
That put Nintendo’s market capitalisation at 4.36 trillion yen, topping Sony, one of Japan’s best-known companies by 300 billion yen.
On Friday, Nintendo set a record for the most shares ever traded daily in Japan.
Since its launch two weeks ago, the game for mobile gadgets has been a surprise hit and sparked a worldwide frenzy among users who have taken to the streets with their smartphones.
The free app uses smartphone satellite location, graphics and camera capabilities to overlay cartoon monsters on real world settings, challenging players to capture and train the creatures for battles.
are betting its popularity is a good sign for Nintendo’s nascent push into mobile gaming, a major U-turn for a company that long insisted on a consoles-only policy.
