Nintendo shares fall as much as 5% after conservative earnings guidance
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FILE PHOTO: The Nintendo booth is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles, California, U.S., June 13, 2017. REUTERS/ Mike Blake
TOKYO (Reuters) – Nintendo Co Ltd’s shares fell as much as 5 percent in early Tokyo trading, a day after the gaming company offered conservative earnings guidance and urged caution on the roll-out of its Switch console in China.
Nintendo’s shares were down 3.2 percent at 0930 local time (0029 GMT), underperforming the benchmark index which was down 0.8 percent.
The Kyoto-based gaming company said on Thursday it expected to shift 18 million Switch consoles and 125 million software units this financial year.
That software forecast is seen by some analysts as conservative given a games pipeline that includes two full Pokemon titles and the latest in the Luigi’s Mansion and Animal Crossing series.
Reporting by Sam Nussey; Editing by Christopher Cushing