Nintendo’s been in the gaming business for over a century now, but it made a curious move this past August after purchasing a stake in a mobile content company called Dwango Co. It was curious because, well, Nintendo doesn’t really deal with mobile content, instead sticking with its own gaming hardware, like the Nintendo 3DS.
That didn’t stop the company from making good out of that decision, though. Its stock has risen 5.15 percent to close at 13,070 yen in Tokyo – the highest it’s been since August 6. Dwango’s shares also surged following the stake purchase, approximately 21 percent, according to the Tokyo Stock Exchange.
Though there are no plans to release direct mobile content to Dwango, the company is advertising through the service, according to Nintendo spokesman Yasuhiro Minagawa. This isn’t a move to get into mobile (though Nintendo does promote its games through Dwango), but rather support for a business based on the personal request of Dwango’s chairman.
Let’s hope this continues to push Nintendo out of its financial troubles this holiday season.
Source: Business Week