Nintendo Share Price Falls 33% in Japan Amid Market Concerns

Nintendo share price has dropped roughly 33% in Japan over the past five months, decreasing from the 2025 peak. As recorded on Jan 13, 2026, Nintendo's share price closed at ¥9,950 ($62.70 USD), marking the first time the Japanese company’s share price dropped below ¥10,000 since April 2025.

Nintendo shares reached a record high in August 2025, closing at ¥14,795 ($93.23), potentially due to the strong initial sales of the Switch 2 and optimism around its ability to revive Nintendo’s hardware cycle. But the rise has reversed as the console’s post-launch momentum eased in key markets, prompting analysts and investors to reassess valuation and future earnings prospects.

Drivers Behind Nintendo's Share Price Decline 

The price drop reflects a mix of factors, among which the declining sales of Switch 2 over Christmas is one of the reasons. Within the first four months of its launch on Jun 5, 2025, Switch 2 surpassed 10M copies sold. However, as per Famitsu’s report, about 1.32M units were sold in Japan over the last nine weeks of 2025, a slightly unappealing sales figure for its successful launch.

The sales in Japan were also 5.5% lesser than Switch 1’s sales in that tenure. During the period of November to December, Switch 2 sales slowed down in the U.S. by 35% in comparison to Switch 1 sales during a similar timeframe in 2017. In Europe, Switch 2 observed a 16% decline in sales in comparison to Switch 1 during the same period of time.

While the drop in sales could not be attributed to a single reason, it could be tied to higher price points and a relative lack of blockbuster Western titles during the crucial buying season. VGC also noted the lack of a ‘killer app,’ despite its six-month sales in the market.

The rising memory (RAM) prices and ongoing tariffs are also some concerns faced by console-first companies based in Asian markets. The broader semiconductor market has seen memory prices surge, driven by AI data centre demand, tightening supply, and raising production costs, which is becoming a greater problem for the overall console-market.

Despite the five-month drop in share price, Nintendo President Shuntaro Furukawa denied any immediate earning impacts during his interview with Kyoto Shimbun. He also did not comment on any potential price-hike for Switch 2, stressing rather that profitability depends on component procurement, mass-production efficiencies, and volatility in exchange rates and tariff conditions, stressing that these factors remain a medium- to long-term issue . 

The combination of sales stagnation and more than 30% drop in Nintendo’s share price would compel the company to enter 2026 with a more cautious investor backdrop than a year ago. However, despite the decline, Nintendo’s share price is higher than it was before 2025, as of this writing.

Nintendo’s 2026 roadmap includes new titles such as Fire Emblem: Fortune's Weave, Pokémon Pokopia, Mario Tennis Fever, Rhythm Heaven Groove, and Tomodachi Collection: Living the Dream. This list lacks any major blockbuster titles, and the Splatoon Raiders release has not been confirmed for 2026. Among the confirmed titles, the Switch 2 exclusive Pokémon Pokopia might be a hit in 2026. Apart from these, the upcoming Super Mario Galaxy movie could re-engage players in the Mario franchise titles.