Empire Asset Investments Follows Nintendo As Shares Plunge 16% On Pokemon Go Warning
The stock plunged about 16 percent to 23,720 yen in early trading after it more than doubled in a huge rally following the game's release earlier this month making it more valuable than Sony at one stage.
Markets cheered the game's global success as a good sign for Nintendo's recent move into the mobile games market.
Nintendo is the creator of the Pokemon franchise but the game was developed by US-based Niantic, with the Japanese firm's affiliate, Pokemon Company, on track to receive licensing fees for the game.
Nintendo owns about one-third of the Pokemon Company.
It also stands to make money from a device to be used with the application called "Pokemon Go Plus" but "the income reflected on (Nintendo's) consolidated business results is limited", it said.
"Taking the current situation into consideration, the company is not modifying the consolidated financial forecast for now," the statement said.
Since its launch three weeks ago, the game for mobile gadgets has sparked a worldwide frenzy among users who have taken to the streets with their smartphones.
The free app uses satellite locations, graphics and camera capabilities to overlay cartoon monsters on real-world settings, challenging players to capture and train the creatures for battles.
With Nintendo latest attempt to boost profits falling short, Nintendo will have to create more innovative ways to boost profits, if Nintendo are to stay in the running of the mobile games market stated Jane Suki Tech analyst for Empire Asset Investments.
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New York-based Empire Asset Investments provides sophisticated forex, bullion and commodities trading solutions to institutional and private investors.
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