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Nintendo says Miyamoto stepping down is a 'misunderstanding' after shares fall

Reuters: Nintendo Co Ltd on Thursday denied a report that Shigeru Miyamoto, widely seen as the world's most influential games designer, would step down from his current position and take a smaller role in the company.

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DarkBlood2412d ago

lol so these people think if he retired nintendo is going to flop so they drop shares?

thats actually kind of sad

PirateThom2412d ago (Edited 2412d ago )

That's how the market reacts... remember, Miyamoto is as much "Nintendo" as Mario or Zelda or whatever. People see him stepping down, not even retiring, focusing on personal projects they said, but it's enough to make people sell their shares on, which is why the price fell.

For shareholders, this is a big, negative change and they're in it for the money, so they're selling while the shares maintain a higher value.

theonlylolking2412d ago

Share holders are not the brightest people. They follow numbers instead of what is actually happening.

DarkBlood2412d ago

then the fail would be even harder if he passed away *hope that doesnt happen*

then we'll know that the shareholders clearly think hes a god should that time happen

Tuxedo_Mask2412d ago

@theonlylolking

Spot on. The entire stock market rises and falls based on minutely stupid things. Nintendo has made some mistakes lately though.

SephirothX212412d ago

Numbers correlate to what is actually happening and how can you generalise that all shareholders are not the brightest people? The market responds to what is likely and Miyamoto's loss from such a position would likely affect the company negatively. Thus, share value decreases according to the average potential investor.

mike1up2412d ago (Edited 2412d ago )

It is about money, and you don't have to flop to lose money. All of the highest selling games for the Wii have Miyamoto's name in the credits. He's not building them from the ground up these days, but all big budget games must meet his final approval before release.

Think of it as your favorite boxed product removing that "seal of approval" or "guarantee".

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majiebeast2412d ago

It just shows without Miyamoto people dont have faith in nintendo.

Samus HD2412d ago

He is the best
but there are other Great man from nintendo
just a Hint "Super Smash Bros"

AWBrawler2412d ago

Sukarai is almost an independent developer, but Aonuma is awesome with Zelda and the creator of Animal Crossing, Katsuya Eguchi shows potential

eagle212412d ago

Still shows how relevant his iconic status is....the internet reported all kinds of stories in relation to this news. Fanboys went stupid as usual. LOL

El_Barto2412d ago

I think Nintendo needs a little new blood, I'm excited to see what some new people have to say and do over at the big N.

Don't get me wrong, this guy is an icon, but he has been in the business for so long now, sometimes you need to evolve or risk dying.

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