Nintendo stocks rise after buying shares in Dwango

Japanese games developer Nintendo has seen its stocks rise to the highest level seen since August.

The rise came after it bought 612,200 shares in the mobile content company Dwango, according to a statement filed to the Tokyo Stock Exchange.

Stocks for the game company, famous for popular titles such as Super Mario Bros and the Legend of Zelda, rose by as much as 5.2 per cent to 13,070 yen before the trading break in Tokyo at 11:30 local time. Additionally, Dwango saw its own stocks rise by 21 per cent.

Nintendo company representative Yasuhiro Minagawa said Dwango would be used to promote titles from the gaming giant and that, at present, there are no plans to distribute through Dwango's video delivery service known as NicoNico.

As a whole, Japan saw stocks rise on Friday morning (November 15th) although the yen fell. Among other companies that saw an increase in shares was Sony Corp, who rallied 4.4 per cent ahead of its Playstation 4 launch.

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