REPORT - Nintendo Drops in Tokyo After SMBC Nikko Cuts Recommendation

Nintendo Co. fell in Tokyo trading after SMBC Nikko Securities Inc. cut its recommendation and said it now expects the company’s entry into smartphone games won’t make full contributions to revenue until the year ending March 2018. The video game maker’s shares dropped as much as 5.4 percent in Tokyo, the biggest decline on an intraday basis since Oct. 30. The stock was 4.7 percent lower at 15,640 yen as of 9:15 a.m. while the benchmark Topix index rose 0.4 percent.