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Nintendo president doesn’t understand why the market reacted poorly to the Switch

Nintendo president Tatsumi Kimishima found himself confused after the reveal of the company’s next hybrid console, the Nintendo Switch, shares in...
  1. Julia Alexander

    Nintendo president Tatsumi Kimishima found himself confused after the reveal of the company’s next hybrid console, the Nintendo Switch, shares in the company dropped.

    Talking to Bloomberg about the Switch and the future of the company, Kimishima said he was surprised to see the negative reaction from investors. He added that he didn’t have an answer as to why it dropped so suddenly and was left confused by the entire situation.

    To tell you the truth, I was surprised,” Kimishima told Bloomberg. “I had wondered about the reaction. But I don't understand why. And there's no real point in me talking about the stock price.

    The night before Nintendo was set to reveal the Switch, the company added more than $1 billion in market revenue. Shares jumped 4.6 percent, making it the biggest surge for the company in more than a month following the phenomenal success of Pokémon Go this summer.

    Following the reveal, however, the company saw a a 7.3 percent drop in shares overnight. Kimishimi said that while he didn’t understand why investors were concerned after seeing the Switch, after eight straight years of declining revenue, the company was dedicated to increasing the number of people who play games, hoping to achieve an increase in profit through building that player base.

    What we aim for is to increase the number of people who play games,” Kimishima said. “We want to deliver all kinds of new surprises to our customers, and it is through their support that our revenue increases. That's the end result. But if that result doesn't show, that means we weren't able to deliver. Next year is when we see the result.

    Nintendo revealed the Switch on Oct. 20 in a video. The hybrid console will allow for a more traditional gaming experience, but can also be used as a portable console on the go. More information about the system, including specs, release date and price, will be announced during an event in Japan on Jan. 12th, 2017.

    Source: Polygon

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