Tecmo shares drop after Itagaki's departure

By Mel

I basically pooh-poohed the news of Ninja Gaiden creator Tomonobu Itagaki’s leaving Tecmo and suing the game company for allegedly not paying bonuses promised to him, an amount that totals $1.4 million.

Apparently, stock owners think that the news is far more important than I do as shares of Tecmo stock at the Tokyo Stock Exchange dropped. Tecmo shares closed at $10.40 last Tuesday, June 3. When it opened the following day, share prices have gone down to $9.30, a significant 10 percent drop. Just yesterday, Tecmo shares closed at $9.27.

It is amazing that the departure of such a controversial figure like Itagaki–who is well known for being egotistical and has even been involved in a sexual harrassment case– will be felt even at the Tokyo Stock Exchange. Video games as an industry has really solidified its status as the biggest entertainment sector in the world today.

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