{"id":13216,"date":"2011-07-29T11:50:00","date_gmt":"2011-07-29T09:50:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-29T22:00:00","slug":"nintendo-stock-falls-21-per-cent","status":"publish","type":"post","link":"https:\/\/mygaming.co.za\/news\/business\/13216-nintendo-stock-falls-21-per-cent","title":{"rendered":"Nintendo stock falls 21 per cent"},"content":{"rendered":"<p>Video game giant Nintendo yesterday for the first time ever reported a quarterly loss. As a result the company&#8217;s stock value fell a whopping 21 per cent.<\/p>\n<p>Former president and Nintendo&#8217;s largest single sharehold, Hiroshi Yamauchi lost a cool $500 million as a result. Ouchies. Yamauchi owns 14.17 million shares in Nintendo, which equates to roughly 10 per cent of the company. According to <a href=\"http:\/\/www.eurogamer.net\/articles\/2011-07-29-nintendo-stock-plummets-21-per-cent\" target=\"_blank\">Eurogamer<\/a> we shouldn&#8217;t feel too sorry for the guy, since he is the sixth richest man in Japan with an estimated fortune of $4.6 billion.<\/p>\n<p>The loss comes after Nintendo admitted that 3DS sales have been a touch underwhelming, selling under 1 million units between April and June. Yesterday Nintendo announced global price cuts on the device, marking it down by around 30% in most countries.<\/p>\n<p>For the first financial quarter of 2012, Nintendo lost about &pound;200m. The loss has been blamed on the high cost of marketing the 3DS as well as research and development on the WiiU, which is due out next year.<\/p>\n<p><span style=\"font-size: small;\"><strong><a href=\"http:\/\/mygaming.co.za\/forum\/showthread.php\/16104-Nintendo-stock-drops-21-percent?p=484752#post484752\" target=\"_self\">Discuss Nintendo&#8217;s financial woes<\/a><\/strong><\/span> in the forums<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Registers first quarterly loss ever<\/p>\n","protected":false},"author":161,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-13216","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/posts\/13216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/users\/161"}],"replies":[{"embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/comments?post=13216"}],"version-history":[{"count":0,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/posts\/13216\/revisions"}],"wp:attachment":[{"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/media?parent=13216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/categories?post=13216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mygaming.co.za\/news\/wp-json\/wp\/v2\/tags?post=13216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}