Nintendo Stocks Fall When It Says It Doesn’t Make Pokémon Go
Nintendo’s stock fell 17 percent in one day.
BY Jason S Ganesan | Jul 26, 2016 | Culture
In your obligatory daily dose of Pokémon Go news, Nintendo’s stocks fell 17 percent on the Tokyo Stock Exchange after (non-Pokémon Go-playing) it let investors know it has almost nothing to do with the game.
Although Nintendo owns about a third of The Pokémon Company, which licences the Pokémon franchise, it only has shares in Niantic Inc, the actual company that makes the game. Meaning that Nintendo makes some money off the game through licensing, but isn’t really raking in the big Pokébucks because it didn’t make Pokémon Go.
But don’t feel bad for Nintendo. It felt confident enough in disassociating itself from the game because the 17 percent fall came after its shares doubled in price this month alone—about the time Pokémon Go was released.
Russia, not wanting to be left out, is making its own version of the cultural behemoth, swapping out Pikachu for Pushkin.
Moscow City Website
Moscow officials announced a Pokémon Go-style makeover for the ‘Discover Moscow. Photo’ app, where players can roam around the city and pick up famous Russians, like Mikhail Lomonosov, Yuri Gagarin, Peter Ilyich Tchaikovsky, Ivan the Terrible, and, proving that Moscow officials are capable of humour, Napoleon Bonaparte.
In an official statement, Moscow city officials said that the famous Russians can be caught when the user is within a 50 m radius of the geomarked location, and is designed to get Muscovites to appreciate the cultural heritage of their great city.
Which is an altogether less dubious way of finding Russians than those actively trying to influence the outcome of your national elections.