Nintendo Finds Support In Black Friday Sales, Stronger Dollar

Nintendo Co. (7974.OK) shares outperformed the broader Japanese stock market early Tuesday after the Japanese video games giant overnight said it sold 900,000 Nintendo DS portable games devices and 600,000 Wii consoles in the U.S. during the Nov. 21-27 Black Friday shopping week.

Nintendo shares ended the Tuesday morning session up 3.9% at Y22,840 on the Osaka Securities Exchange.

Some stock market participants regarded the figures for the early stage of the holiday shopping season as a positive sign.

"Many had expected the year-end shopping season to be tough (for Nintendo) so there is some relief that the start was relatively smooth," said Naoki Fujiwara, fund manager at Shinkin Asset Management.

Still, others said the Black Friday results were not a major buying cue, instead citing the yen's recent weakening against the U.S. dollar as the main catalyst for Nintendo's share gains on Monday and early Tuesday.

Yusuke Tsunoda, analyst at Tokai Tokyo Research Center, said Nintendo's U.S. holiday sales usually depend more on December results, so investors will likely wait and see how the figures fare toward the end of the holiday season.

-By Juro Osawa, Dow Jones Newswires; +813-6269-2794; juro.osawa@dowjones.com

Nintendo (PK) (USOTC:NTDOY)
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