Lex is a premium daily commentary service from the Financial Times. It helps readers make better investment decisions by highlighting key emerging risks and opportunities.
Congratulations to Sony: the only Tokyo large-cap still up 100 per cent year to date, and helped this week by buzz surrounding its new games console. Brickbats then to Nintendo, its gaming rival languishing near the other end of the Topix 100 with a mere 3 per cent gain. One of the reasons for Nintendo going nowhere is a fear that Super Mario, Donkey Kong, Princess Zelda and the Pokemon crew are not either as it ignores smartphone gaming. Does that make its stock mispriced or management misguided? Or – deep breath here – is it a takeover target?