Nintendo Shares Plummet After Smartphone Game Delayed
- Application being developed with DeNA was set for this year
- Nintendo falls most since 2011; DeNA drops 15 percent
Mario from Nintendo's Super Mario Bros. video game franchise.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
Nintendo Co.’s Japanese shares fell the most since 2011 after the company said its new smartphone game application won’t be released until March, at least three months later than originally promised.
Shares of the maker of Wii consoles and Super Mario games fell 9 percent in Tokyo to 20,945 yen after President Tatsumi Kimishima said a joint project with online games platform operator DeNA Co. won’t debut this calendar year. The new app will be called Miitomo and will be free-to-play at the start. DeNA shares fell 15 percent. Nintendo’s American depositary receipts fell 12 percent at the close Thursday in New York, the most since January 2014.