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REPORT - Nintendo stock sees bump after news of BlackRock share ownership surfaces

by rawmeatcowboy
23 March 2017
GN Version 5.0

Nintendo Co Ltd (7974.T) shares rose as much as 2 percent on Thursday after a regulatory filing showed BlackRock, the world's largest asset manager, owns over five percent of stock in the Japanese games maker. BlackRock owns a 5.17 percent stake in Nintendo, the filing, which was issued on Wednesday, showed. The benchmark Nikkei average .N225 average was up 0.1 percent in early morning trade.

For those wondering, here's a bit on what BlackRock is all about.

BlackRock, Inc. is an American global investment management corporation based in New York City. Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager with $5.1 trillion in assets under management.

This info is newsworthy because BlackRock is well respected in their field, and their move on Nintendo stock shows that they have confidence in Nintendo's future.

[Link]