Nintendo has No. 2 market cap in Japan

Filed under: Nintendo DS, Nintendo GameCube, Nintendo Wii, Business

Money-printing console maker Nintendo has now become the number two company in Japan in terms of market capitalization, beaten only by automaker Toyota, according to Financial Times.

Nintendo, whose value is currently 8.39 trillion yen (approx. US $73.2 billion) has just edged out Canon's market cap of 8.12 trillion yen. Don't expect the House of Mario to surpass Toyota, however, as its value nearly three times that of Nintendo's at 24 trillion yen.

The company surpassed Sony in late June this year when it reached a now-meager 6.54 trillion yen. Despite the dramatic increase in value, the Financial Time notes that many analyst believe Nintendo is still not overvalued, given its conservative profit forecasts and favorable currency exchange rates. With any luck, Nintendo can use all this newfound wealth to ensure there won't be a shortage of Wii consoles or copies of Smash Bros Brawl this holiday.

[Via Blogging Stocks]

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[via] Joystiq