Report
Kazunori Ito
EUR 101.80 For Business Accounts Only

Raising Nintendo’s FVE to JPY 50,000, as the Switch will replicate the success of the Wii.

We raise our fair value estimate of Nintendo to JPY 50,000 from JPY 44,000, as we revise our lifetime shipment assumption of Nintendo Switch to 110 million consoles from 80 million consoles for three major reasons: 1) Nintendo has succeeded in expanding its production capacity, and is now able to deliver more Switch consoles for the holiday season; 2) more third-party software will be launched next year, which will accelerate the Switch’s shipment momentum; and 3) we expect to see more than one ...
Underlying
Nintendo Co. Ltd.

Nintendo is mainly engaged in the development, manufacture, and sale of home-use game hardware/software and peripheral equipment as well as software under the name of "Nintendo DS," "Nintendo 3DS," "Game Boy," "Nintendo 64,"" Game Boy Advance," "Wii," "Nintendo GameCube," "Game Boy Color" and "e-Reader (trading card games)." Co.'s principal software trademarks include "Pokemon," "Super Mario Bros.," "The Legend of Zelda," "STARFOX64" and others. Co. also provides online games and repair services. In addition, Co. is involved in the manufacture and sale of Japanese playing cards called "Karuta," playing cards and board games, as well as the management of intellectual property rights.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Kazunori Ito

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