Thursday, May 08, 2008

Hiroshi Yamauchi: Getting Richer with Nintendo

Hiroshi Yamauchi is now 80 years old and he is not the chairman of Nintendo Co., Ltd ( TYO:7974) any more but he still owns many shares of the company. Nintendo is not a new company and in fact, it started at the end of 19th century. These days, things are going well for the company and the company is generating healthy amount of revenue. So, Hiroshi Yamauchi is also getting richer. In fact, decent performance of the company has now made Hiroshi Yamauchi the richest man in Japan. According to Forbes, he has $7.8 billion and he is the richest man in Japan today.

Reuters reported:

The net worth of Yamauchi, 80, jumped $3 billion in the past year -- boosting him from third place to surpass property tycoon Akira Mori, Japan's richest man last year, the magazine said.

Nintendo's Wii, with its motion-sensing controller and quirky games that attract casual users, has far outsold rival game machines such as Sony's PlayStation 3 and Microsoft's Xbox 360 since its launch in 2006.

Shares of Kyoto-based Nintendo have more than tripled in the past two years, boosting the value of the company to around $79 billion, and the fortune of Yamauchi, who owns 10 percent.

So, Hiroshi Yamauchi must be a very happy man to see that both his company and he have done very well in the last one year. Nintendo’s Wii become very successful in international market and although, it is behind than Sony’s PSP in Japanese market but Nintendo’s Wii has very strong performance in the US market.