Nintendo’s stock rose to its highest since August after buying 612,000 shares in web content company Dwango. After purchasing the shares, Nintendo’s stock rose 5.2 percent, and Dwango’s shares shot up 21 percent.
Nintendo spokesman Yasuhiro Minagawa says Nintendo isn’t planning to distribute games through Dwango’s video delivery system Niconico. According to Business Week, Minagawa says Nintendo acquired the shares at the request of Dwango Chairman Nobuo Kawakami for his personal funding needs.
Source: Business Week