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Japan’s two largest video game companies saw significant gains last week as demand for consoles surged ahead of the holidays.
Bloomberg reports that Nintendo shares rose more than they have in more than a year on Thursday, up 6.6%.
It peaked at ¥ 67,850 ($ 647.97) per share, the highest since December 2007, fueled by the first successful year of the Wii.
Meanwhile, Sony Corporation shares rose 2.66% over the course of Thursday at 10,025 yen ($ 95.67) per share.
It is the first time the company’s stock price has exceeded 10,000 yen since 2001, when the PlayStation 2 was growing rapidly.
In 2020, both companies have been boosted by the continued success of their latest consoles.
Despite its launch in 2017 and the competition for attention against next-gen consoles, the Nintendo Switch has been a consistently strong seller throughout the year.
In the US and EMEA territories last month, it outsold the PlayStation 5 and Xbox Series X | S recently released in terms of units.
However, PlayStation 5 generated the most dollar sales in the US during its first month and, as with the Xbox Series X | Yes, it probably would have sold more if additional stock had been available.
Bloomberg notes that video game stocks have risen this year as more people have stayed home during the pandemic.
Both Capcom and Koei Tecmo also hit record highs on the Tokyo Stock Exchange on Thursday.
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