Nintendo and Sony share prices rise to record highs

Japan’s two largest video game companies saw huge gains last week as demand for consoles rises ahead of the holidays.

Bloomberg reports that Nintendo shares rose more than they have in more than a year on Thursday, up 6.6%.

It reached a high of ¥ 67,850 ($ 647.97) per share – the highest level since December 2007, led by Wii ‘s first successful year.

Meanwhile, Sony Corporation stock rose 2.66% over Thursday to ¥ 10,025 ($ 95.67) per share.

This is the first time the company ‘s share price has risen above ¥ 10,000 since 2001, when the PlayStation 2 was growing rapidly.

In 2020, both companies received a boost from the continued success of their latest consoles.

Despite being launched in 2017 and competing for attention against next-gen consoles, the Nintendo Switch has been a consistently strong vendor throughout the year.

In U.S. and EMEAA regions last month, it released both PlayStation 5 and Xbox Series X | S launched in terms of units.

However, PlayStation 5 generated the highest U.S. dollar sales in its first month and, as with the Xbox Series X | S, it is likely that they would have sold more if more stock were available.

Bloomberg notes that the stock of video games has increased this year as more people have stayed at home due to the pandemic.

Both Capcom and Koei Tecmo also went high in the Tokyo stock exchange on Thursday.