Nintendo Declines After Delaying Metroid Prime 4 Game for Switch

(Bloomberg) -- Nintendo Co. shares dipped after saying that it is scrapping development of its Metroid Prime 4 and starting again with a new team after the highly anticipated Switch game failed to meet internal standards.

The shares of the Kyoto-based gaming company fell as much as 2.8 percent in early trading on Monday, the most in two weeks. The title was initially announced in 2017 and was expected to be released in 2019-2020. Shinya Takahashi, head of development, said in a video message on YouTube on Jan. 25 that Nintendo would cooperate with U.S.-based Retro Studios and restart development from the beginning. Takahashi didn’t say when the title would be completed.

Nintendo President Sticks to Switch Shipments Target: Sankei

Nintendo is keeping its forecast for 20 million Switch shipments in the fiscal year through March, President Shuntaro Furukawa told the Sankei newspaper last week, a bullish forecast for a game console that appeared to be losing momentum.

--With assistance from Yuji Nakamura.

To contact the reporter on this story: Gareth Allan in Tokyo at gallan11@bloomberg.net

To contact the editors responsible for this story: Shamim Adam at sadam2@bloomberg.net, Cormac Mullen, Edward Johnson

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