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Nintendo more valuable than rival Sony thanks to popularity of ‘Pokémon Go’

Nintendo’s stock market value has seen a significant boost since the successful mobile launch of Pokémon Go on July 6, with share prices effectively more than doubling and the company becoming more valuable than rival console manufacturer Sony, according to a Telegraph report.

Nintendo’s current Japanese stock market value stands at 4.5 trillion yen, putting it ahead of Sony’s current worth of 4.1 trillion yen. The recent surge in market capitalization marks the first time that Nintendo has been worth more than Sony since July of 2014.

Related: Pokémon Go is (reportedly) coming home to Japan tomorrow

Nintendo’s stock market success can be directly attributed to the recent North American and European launches of Pokémon Go, an augmented reality app for iOS and Android devices. A new twist in Nintendo’s wildly popular Pokémon series, Pokémon Go challenges players to explore real-world locations in search of elusive Pokémon creatures, which can be collected and deployed in battle against rival teams.

The Telegraph notes that Nintendo’s share prices jumped by 12 percent over the last weekend alone, and the company’s overall share value has increased by 120 percent since the launch of Pokémon Go earlier this month. Initially valued at around 2 million yen heading into July, Nintendo’s market capitalization has more than doubled to 4.5 trillion yen in the wake of Pokémon Go‘s release.

Share trading reached a fever pitch last week as news of the Pokémon Go phenomenon spread. The Telegraph reports that Nintendo can claim “the highest value of shares traded in one company on the Japanese stock market in a single day this century,” with 476 billion yen worth of company shares trading hands on July 15.

Nintendo shares its Pokémon franchise copyright among many of its partners and subdivisions, including longtime series developers Game Freak and Creatures Inc. Nintendo also owns a 32 percent stake in The Pokémon Company, an external division that handles franchise marketing and licensing. Developer Game Freak is currently tackling a new entry in Nintendo’s core Pokémon series, with Pokémon Sun and Pokémon Moon slated to launch for Nintendo 3DS consoles worldwide in November.

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