Nintendo has acquired 70% of retail distributor JESNET. They have worked extensively with each other in the past and this could be seen as a strengthening of those business ties. Alternatively, it could be that Nintendo is preparing a major launch for the NX when it comes out and is sparing no expense. Either way, we will keep you updated.
To Whom It May Concern
August 25, 2016
Listed Company Name: Nintendo Co., Ltd. Representative: Tatsumi Kimishima
Representative Director and President
(Code Number: 7974 First Section of the Tokyo Stock Exchange)
Contact Person: Yutaka Takenaga
Deputy General Manager
Corporate Analysis & Administration Division (TEL 075 – 662 – 9600)
Notification of the Subsidiarization of JESNET Co. Ltd. and the Acceptance of Assignment of Business from AJIOKA Co., Ltd.Nintendo Co., Ltd., (HQ: Kyoto Minami-ku; Representative Director and President: Tatsumi Kimishima; hereinafter “Nintendo”) would like to announce that it has passed a resolution to acquire the stock of JESNET Co. Ltd. (HQ: Sapporo, Hokkaido; Representative Director and President: Jou Suzuki; hereinafter “JESNET”) and make it a subsidiary of Nintendo at the August 25, 2016 meeting of the Board of Directors. Furthermore, on the same day as JESNET becomes a subsidiary of Nintendo, JESNET will accept the assignment of the video game wholesale business from AJIOKA Co., Ltd. (HQ: Nishio, Aichi; Representative Director and President: Gentarou Ajioka; hereinafter “AJIOKA”). JESNET and AJIOKA have also agreed to this resolution.