Nintendo’s shares have fallen since the announcement of Shigeru Miyamoto’s retirement, and Nintendo are quick to reassure investors stating the news is ‘absolutely not true’.
Nintendo shares fell 2% after the announcement, compared to the 0.7 percent drop that is the current Nikkei average.
Reported earlier today, Miyamoto announced a mini-retirement, in which he will be stepping down from his current role to undertake smaller and more personal projects, as well as giving himself a chance to ‘nurture’ the younger generation of game developers.
The use of the word ‘retire’ has seemingly worried investors, and Nintendo have release a statement to reassure us that he isn’t leaving Nintendo, merely moving to a different place within the company.
“This is absolutely not true…There seems to have been a misunderstanding. He has said all along that he wants to train the younger generation. He has no intention of stepping down. Please do not be concerned.”
Miyamoto’s earlier choice of words may have been poor, but they were deliberate, stating that “unless I say that I’m retiring, I cannot nurture the young developers”.
This isn’t the first time this year that Nintendo shares have dropped after an announcement – back at E3, the unveiling of the Wii U led to shares falling to a ‘five year low’. Coupled with Nintendo’s massive losses this year, the companies representatives may have to start watching what it says very carefully in the future.
Thanks to Reuters.
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