Nintendo joined global household names such as Toyota, Honda, and Canon on the top-10 list before its shares erased earlier gains and ended the day lower.
“It is becoming quite clear that Nintendo is taking back its market share from Sony in the console market while well defending its stronghold of portable games,” Mizuho Securities analyst Takeshi Koyama said.
Nintendo’s Wii game console has outsold Sony’s PlayStation 3 by three to one in Japan and by more than two to one in the United States so far this year, according to game magazine publisher Enterbrain and research firm NPD.
Demand for its DS handheld game players also far outstripped that for Sony’s PlayStation Portable.
Koyama said, however, that investors should watch out for a possible pull-back after two year-long bull runs.
“This is one of those companies that is not exactly making daily necessities. One negative factor and shares could take a dive. We need to be careful in dealing with shares like this,” Koyama said.
Nintendo’s shares rose as high as 46,350 yen, a record high, in the morning session, boosting its market value to 6.57 trillion yen ($53 billion) and narrowly surpassing Sony’s market capitalization.