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Nintendo Shares Gain on Speculation Stock May Be Included in Nikkei 225

Nintendo Co., the world’s largest maker of video-game players, rose the most in 33 months in Osaka on speculation it will be included in the Nikkei 225 Stock Average should the city’s exchange merge with the Tokyo’s.

Nintendo rose 9.8 percent, the biggest gain since November 2008, to 11,970 yen, as of the 3:10 p.m. close on the Osaka Securities Exchange. Murata Manufacturing Co. jumped 3 percent, and Omron Corp. (6645), also listed in Osaka, advanced 4 percent.

Tokyo Stock Exchange Inc. is close to reaching a takeover agreement with Osaka Securities Exchange Co., the Yomiuri newspaper reported Aug. 13. Both companies denied the report. Inclusion in the Nikkei 225 means managers of index funds would have to buy the shares.

“The expectation that Nintendo and other Osaka-listed shares would be included in the Nikkei if the two bourses manage to merge drove the shares higher,” Toshihiko Matsuno, a senior strategist at SMBC Friend Securities Co. in Tokyo, said today by phone.

Japanese exporters including Nintendo also got a boost after the yen weakened, Matsuno said. Yoshihiko Noda, Japan’s finance minister, said yesterday that he’s ready to step in again to stem a yen advance that risks slowing the nation’s recovery.

The yen depreciated to as weak as 77.10 against the dollar in Tokyo trading, compared with 76.71 on Aug. 12.

To contact the reporter on this story: Naoko Fujimura in Tokyo at nfujimura@bloomberg.net.

To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net

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