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Stocks

Nintendo market cap hits 5tn yen

Hopes of bigger market share give the stock a power-up

Nintendo's red-capped hero rides again on the Switch.

TOKYO -- Nintendo's market capitalization reached 5 trillion yen ($45.2 billion) for the first time in eight years and five months at the market's close Thursday, thanks to foreign and domestic bullishness on its game business.

The surge lifted the Kyoto-based company above Mizuho Financial Group to the 15th-highest market capitalization on the first section of the Tokyo Stock Exchange. Nintendo also tops Nissan Motor and Takeda Pharmaceutical while just trailing Sony and Canon.

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