Nintendo shares fall 10 pct after doubling on Pokemon GO craze (updated)
20/07/2016 02:35
* Nintendo market cap doubled since July 6 Pokemon GO launch
* TechCrunch says Pokemon GO to launch in Japan on Wednesday
* TechCrunch says McDonald's Japan to become game's first
sponsor
* McDonald's shares piggy-back Pokemon GO craze, up 12.5 pct
(Adds details on media reports, share moves)
TOKYO, July 20 (Reuters) - Nintendo Co's 7974.T shares
fell 10 percent in early trade on Wednesday after they more than
doubled in value over the past seven sessions powered by the
record-breaking success of the Pokemon GO mobile game.
As of Tuesday's close, Nintendo had added $23 billion to its
market capitalisation in heavy trade since the July 6 launch of
the game in the United States, Australia and New Zealand.
Pokemon GO, which marries a classic 20-year-old franchise
with augmented reality, is now available in 35 countries, mostly
in Europe, and technology news site TechCrunch reported the game
will be launched in Japan, one of the world's biggest gaming
markets, on Wednesday.
Pokemon Company, which created the game along with Nintendo
and Google-spinoff Niantic, could not immediately be reached for
comment. Nintendo has referred any queries regarding Pokemon GO
to Pokemon Company.
Pokemon GO is on its way to becoming the first mobile game
to break the $4 billion-per-year wall, beating Candy Crush Saga
and Supercell's Clash of Clans, according to Macquarie Research.
Shares of Japan's McDonald's Holdings Co 2702.T
piggy-backed the Pokemon GO craze, rising 12.5 percent in early
trade after TechCrunch reported the fast-food chain operator
would become the game's first sponsor.
TechCrunch said the sponsorship will see McDonald's
3,000-plus fast food restaurants across Japan become "gyms", or
battlegrounds, for Pokemon collectors.
McDonald's Japan shares soared as much as 23 percent to
their highest level since late 2001 on Tuesday, the first day of
trade since its stores started giving away Pokemon-themed toys
with its Happy Meals last Friday.
McDonald's Japan could not immediately be reached for
comment.
($1 = 106.0200 yen)
(Reporting by Chang-Ran Kim; Editing by Stephen Coates and
Edwina Gibbs)
((ran.kim@thomsonreuters.com; +81-3-6441-1804; Reuters
Messaging: ran.kim.reuters.com@reuters.net))
Keywords: NINTENDO POKEMON/STOCKS