"Pokemon Go" is expected to be a huge hit in Japan, the country of the character's birth.
Shares in the 127-year-old Japanese gaming company had nearly doubled in the weeks since the augmented reality phenomenon gripped gamers across the world, before it admitted on Friday that despite the game's success, Nintendo would not expect to revise its earning forecasts upwards.
For more news about Pokemon Nintendo Shares and Pokemon GO Update, stay tuned as there will be more updates in the coming weeks regarding the game. The game itself is developed and distributed by Niantic, the San Francisco-based mobile developer that was spun out of Google previous year. Nintendo issued a press release stating that the financial impact of the game on its own fortunes would be 'limited'. As of today, the company cannot fall more than 18% as per exchange rules on the maximum that share prices can fluctuate per day. And Nintendo has insisted it's only keeping its current forecast intact "for now", suggesting a possible increase could be forthcoming as Pokemon Go sustains its momentum as it launches in new regions.
Nintendo stocks fell but analysts still believe it's a good buy. Shares of Nintendo closed down 17.7 percent down this past week after doubling since the game's launch.
Nintendo only owns 32 perceent of the Pokemon Company, the owners of the Pokemon brand, and the licensing rights to the world-wide sensation game, Pokemon Go. It suddenly became the most downloaded gaming app in Google Play and the Apple Store, not to mention millions of players that are easily hooked up by the latest augmented reality (AR) gaming app.
The company, which is due to release its first-quarter results on Wednesday, has forecast a 37% rise in operating profit in the year to March.