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Yamauchi family selling shares in Nintendo back to the company
Yamauchi family selling shares in Nintendo back to the company
February 3, 2014 | By Mike Rose

February 3, 2014 | By Mike Rose
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    6 comments
More: Console/PC, Business/Marketing



The family of former Nintendo president Hiroshi Yamauchi, who sadly passed away late last year, will sell all of its inherited shares back to the Japanese video game giant later this week.

In a statement, Nintendo said today that the Yamauchi family "desire to sell their holdings of the Company's common shares," and that Nintendo plans to buy all 9.5 million shares tomorrow morning.

These shares are worth a total of 114.2 billion yen ($1.1 billion), and make up 7.43 percent of the total number of shares in the company as a whole.

Notably, this move comes just weeks after Nintendo's shares plunged as a result of poor fiscal results.


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Comments


Daniel Backteman
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Woah, you're not implying? Sneaky.

John Mascarenas
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Better to sell'em now while they are still worth something. Just think how much more they would've been worth if they sold like two weeks ago.

Jordan Fussnecker
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Since he was former President, odds are he had stock options, making the market price impertinent.

Rodolfo Camarena
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Psh... right now, it's the best time to invest. Think of all the 1st party titles coming out later this year. I like it when people panic. I wouldn't mind shares going down a few more bills, so that I can buy more shares. When Nintendo's stock goes back up, and after successful sales of Mario, Zelda, Smash Bros., and etc I'm going to look back at this blog, and smile.

Marvin Papin
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Donno if they'll get back that time. Relaunching a new wii (WiiU)(that's how they sold it) while much wiis are taking dust deep in a furniture was quite stupid, mainly side by side with a new gen of console. And when I see what they did with last Mario 2.75D and Mario party on DS, I'm still much more worried.

That's logic to not lower the price to not sell the hardware with loss, but people will not buy it and things will be more and more awful. I bet on a new newGen hardware with really great functionality because I see no other exit.

They have the strength of Mario & Cie franchise but I'm not sure that'll be enough to keep heads up in Mobile massive market. I miss the GameCube.


Finally, shares will obviously drop on a mid term scale. That's more judicious to sell now and e-v-e-n-t-u-a-l-l-y come back later.

Benjamin Quintero
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Better to sell now before news breaks that Smash Bros is getting pushed to early 2015.


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