Tokyo’s Nikkei index closes flat as Nintendo falls

TOKYO: Tokyo’s benchmark Nikkei index closed flat on Monday, as Nintendo shares tumbled after reports said its next console would be delayed.

The benchmark Nikkei 225 index edged down 0.04 percent, or 16.86 points, to end at 38,470.38, while the broader Topix index climbed 0.57 percent, or 14.96 points, to 2,639.69.

Nintendo plunged 5.83 percent to 8,356 yen after several media outlets reported, citing unnamed sources, that the launch of the much-anticipated successor to the popular Switch console would be delayed until the early months of 2025.

“If the rumours are true, 2024 will probably be quite tough for Nintendo,” Serkan Toto from Tokyo-based consultancy Kantan Games told AFP.

“They cannot publish blockbusters because they need to keep them for their next console, so they would be stuck with remakes of older titles, smaller games or support from third-party studios.”