Nintendo founding family to sell shares worth over $1 billion [UPDATE]

Buyback now complete.

[UPDATE] Nintendo today completed the buyback of 9.5 million shares from the Yamauchi family.

The original story is below.

The family of longtime Nintendo executive Hiroshi Yamauchi, grandson of founder Fusajiro Yamauchi, has informed the company that it plans to sell as many as 9.5 million shares tomorrow as part of a massive buyback worth an estimated $1.1 billion.

Yamauchi died in September 2013. He was 85.

The 9.5 million shares represents around 7.43 percent of outstanding stock, and will be purchased tomorrow in Japan at the stock's closing price of ¥ 12,025 today. The transaction will be made by Nintendo's agent through the Tokyo Stock Exchange.

Yamauchi ran Nintendo for 53 years and gave his stake in the company to his four children following his death, Bloomberg reports. The family said in a statement that they have informed Nintendo of their "desire to sell," but did not say why.

The announcement of the buyback comes after Nintendo announced dismal Wii U sales and downtrodden financial projections last month. The company has since outlined plans regarding how it intends to revitalize its business performance going forward.

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eddienoteddy

Eddie Makuch

Eddie Makuch is a news editor at GameSpot, and would like to see the Whalers return to Hartford.
459 comments
jsmoke03
jsmoke03

crazy. i wonder how that affects nintys stock

n0xinab0x
n0xinab0x

lol, this reminds of Sam Walton's (Walmart) children...Sorta...

rob9999991
rob9999991

I have a feeling Nintendo is going to have some very interesting announcements come E3.

Gudzhis
Gudzhis

I had no idea nintendo hipsters are so easily offended, They are like JB fans over their products, if you even give bad argument  about nintendo, you will get thrown shit all over yourself. that's just pathetic.

Gudzhis
Gudzhis

@chev7758 And we have one of specimens here.  You are on of those who makes my point true. GJ

Albelnox0
Albelnox0

@Gudzhis @chev7758 Chev got mad at me because i gave some criticism on nintendo that they need to bring back there 64 and snes generation of gamers, and not just cater to children. Then he got beserk on me and called me a troll and a nintendo hater.  I love nintendo but im not that delusional to realize things are getting more serious as time goes by.

bongsyas_23
bongsyas_23

no offense, but if it wasn't for first-party titles, Nintendo would've been bankrupt ages ago

Ra-Maxima
Ra-Maxima

again Nintendo should change 2 software

WoodenStick
WoodenStick

Nintendo buys their own shares so that other companies dont buy them.


I dont Think any other Company could make Nintendo games.

BradBurns
BradBurns

That's kinda jumping the gun. One slow selling console and suddenly they don't wanna have anything to do with the company. That's either little faith in the company or just plain business cynicism. Sell high buy low.

tom2750
tom2750

@BradBurns  they got 1.1billion out of it i don't think they care whether the shares were sold at a higher or lower price then what there dad payed for them as they are still getting 1.1 billion dollar they are gonna be all rich as fuck that's like over 275 million dollars each they will never have to earn any money ever again in there lives 275 million is easily enough to last a life time of spending and then some

GH05T-666
GH05T-666

Yamauchi's family are disrespectful rats .

They just want money. I bet they are rich anyway. 

They wait until grand father dies then sell his legacy!

greedy rats

BradBurns
BradBurns

@GH05T-666  It hasn't even been a year, right? Way to keep the legacy alive, guys.

DARKSPACE
DARKSPACE

Ahhh Itz Ah me MaaaaRio. Iza noez likey dis, U buncha sunOvah beeshes.

bubba_1988
bubba_1988

Just like we saw with the Costa Concordia the people at the helm abandoned ship first, while the women, children, old and sick were left to go down with the ship.

kutulu1
kutulu1

RIP. Sorry for your loss.

nparks
nparks

Should have sold a month ago when their stock price peaked, even though it was obvious Wii U sales were massively disappointing.

That's going to put a dent in Nintendo's cash reserves if they can't resell the stock.

rob9999991
rob9999991

@nparks Nintendo does not want to sell the stock off. They will use this as leverage for whatever mergers they were hinting at.

OmegaGear
OmegaGear

Step 1. Develop a pokemon version of the skylanders game model.

Step 2. Rule the world.

dr_jashugan
dr_jashugan

They are selling before the stock tanks even worse. Nothing new here. 8-\

chev7758
chev7758

@dr_jashugan  This troll is trolling to take himself away from the fact that he can't get out of his parent's basement due to being afraid of the outside world, overweight, and can't get laid. 

Gudzhis
Gudzhis

@chev7758


Didn't know nintendo hipsters are so easily offended lol.


Why so butthurt over other people business.

hardeman
hardeman

it wasnt the wii u that killed niintendo, it was the greedy ass family members of yamauchi

Deadlysyns87
Deadlysyns87

@hardeman  they only hold 7.43% of the stocks they really have very little say in what goes on

crunchb3rry
crunchb3rry

@hardeman No, Nintendo's current situation is their own fault. They've been headed this way since the Gamecube.

Mr_Big_Boss
Mr_Big_Boss

Former CEO dies, leaves his stock to his family, family sells stock.


Deadlysyns87
Deadlysyns87

7.43 % gives Nintendo nothing its not large enough.

chibi-acer
chibi-acer

So many people commenting who obviously have no idea what this article is talking about, or how stocks work in general.

tinyname
tinyname

@chibi-acer enlighten us, oh grand master.  People don't sell stocks when they expect prices to go up.  herp derp.

chibi-acer
chibi-acer

@tinyname @chibi-acer  I was referring to numerous posts stating that Nintendo is selling the company, which is not true.  Nintendo isn't selling anything, they're buying their own shares back from stakeholders.

rob9999991
rob9999991

@chibi-acer @tinyname It may be more than that. The extra stock now owned by Nintendo certainly gives them more leverage if/when they do decide to merge with company x.

xolivierx
xolivierx

It's kinda funny....every day we have news about Nintendo. But when was the last time there was news about a good wiiU game being released?


fig56
fig56

@xolivierx how about nov. 22nd-super Mario 3d world? or Feb 21st- Donkey Country Tropical Freeze? Or how about Mario Kart 8 in May 2014? Do some research before posting...troll.

chev7758
chev7758

@xolivierx  It's kinda funny. .. Every time when a good Wii U comes out, trolls like you ignore it to troll Nintendo. Like the upcoming game that's coming out in a few weeks. 

jdc6305
jdc6305

Buying this stock may give Nintendo more freedom to do what they want. They may make a big acquisition sometime soon or merge with another company. Something is coming that may change Nintendo. 

fig56
fig56

@jdc6305 1Billion dollars? That's not freedom. That's chump change for Nintendo.

OmegaGear
OmegaGear

@fig56 @jdc6305  Something that represents 7.5% of your value is rarely considered chump change. It also depends on how much money Nintendo actually has on hand.

playstationzone
playstationzone

good luck changing things around Nintendo next Nintendo news another game not coming to Will U.

chev7758
chev7758

@playstationzone  And that UNNECESSARY news will be coming from Eddie Makuch like always. And only troll like you will fully support that kind of crappy journalism.  

OmegaGear
OmegaGear

@chev7758 @playstationzone  Is it unnecessary if its answering the question a lot of Wii U owners are asking in regards to a 3rd part release? It may seem like kicking a dead horse, or pouring fuel over a fire, but as a video game new website, it is their purpose to deliver information about video games. If a company confirms they're not bringing a product to a console, then they should post it in some way, especially if it was at one time considered.

chev7758
chev7758

@OmegaGear @chev7758 @playstationzone  Have you read the articles? The "not coming to Wii U" is awkwardly place in the title every time, and company itself never says anything about whatever game not coming to the platform. Also, it's unprofessional. 


Face it, Eddie is a bias piece of thrash that should be fired. 

tom2750
tom2750

@chev7758  why would they not put it in the title then how would people know what the article is about and if they want to click on that article or not moron