News: Nintendo Restricted On New Info At GDC?

Posted by Tom Phillips - Mar 5th 2007 15:14

Sources suggest we won't be hearing about any new products from Nintendo at the Game Developers Conference. Read why inside...

Despite the fact that top Nintendo bods Shigeru Miyamoto, Eiji Aonuma and Koji Kondo are due to speak at the upcoming GDC, it would appear that the three have been told to not discuss any "forward-looking" information - don't be expecting fresh tidbits on any unreleased titles.

The order comes as Nintendo is about to sell 1.987 million shares of its stock held by the Banks Shareholdings Purchase Corporation in Japan to re-sell to individual investors.

Shigeru Miyamoto's keynote address is scheduled to take place this Thursday morning, we'll be reporting on what he says, new information or not.


Source: Game | Life



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Comments

ReZourceman Says:
March 5th, 2007 at 09:27 || Total Comments: 93
.....Why?
Ravenblade2006 Says:
March 5th, 2007 at 10:22 || Total Comments: 272
Read the link, it explains why.

This sucks but unfortunately you cant ignore the rules relating to shares. Hopefully Nintendo will give us the desired information shortly after the GDC.
Tellyn888 Says:
March 5th, 2007 at 11:37 || Total Comments: 52
They want to liquify their shares, so there's not loads of shares held by one person. If something big is revealed at the conference, Bill Gates or someone rich will want to buy all of the shares. They don't want majority share holders, just lots of people/companies owning small shares.
Nintendo-master2 Says:
March 5th, 2007 at 12:07 || Total Comments: 1533
well they cant release everythin at once then they wont have anything in teh future and there will be a big drought(figurativly) take the wii channels for example
Rummy Says:
March 5th, 2007 at 13:43 || Total Comments: 194
So someone who holds lots and lots and lots of shares in Nintendo are wishing to sell them on, and the runners of Nintendo don't want too much interest in them from one person?
Nintendo are selling some shares to spread out the company's holdings whilst getting some extra investment, and don't want too much revealed for same reason above?

I don't entirely understand it tbh, even having read the link and above comments.
Anyone smart out there to break it right down for idiots like I?
-JC- Says:
March 5th, 2007 at 16:11 || Total Comments: 8
It's because it's illegal to do something that may affect stock prices on the eve of, or generally very close to, the sale of a large portion of their stock. For example, if Nintendo announce that they are going to get GTA4, Halo 3 and MGS4 within a year (ok, it's not going to happen, but bear with me), then the future suddenly looks a bit different, chucking all the financial forcasts out of the window. News like that would likely increase the stock price a fair whack, meaning that the planned trade of shares would bring extra cash to the seller at extra cost to the buyer.
Kagato Says:
March 5th, 2007 at 18:26 || Total Comments: 683
Its sad that we wont hear anything new but not completely unexpected as JC has explained above. Still, its not like Nintendo to keep quiet for too long and im sure come summer which is slowly creeping up on us, we will be knee deep in news, previews and other assorted Nintendo goodness!

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