Nintendo shares sank on the Tokyo Stock Exchange as the company outlined its plans for the future at an event held prior to the Tokyo Games Show in Japan. The company announced new features for the handheld, colors for the device, new games, release dates for known ones, and intentions going forward to spur sales. However, none of this seemed to help the stock gain any traction when it slipped over five percent in trading on Tuesday.
Investors are obviously shaken by the dual threat of the abrupt weakness in Nintendo Wii sales, and the unprecedented price cuts of the Nintendo 3DS.
An analyst for Ichiyoshi Investment Management tied the drop in the company shares to estimations that the market was hoping for. The analyst told Bloomberg that “Today’s announcements were disappointing relative to what the market was hoping for… The new Mario titles and the additional movie-camera function aren’t enough to meet its targets during Christmas. “