japanese family business

Pokémon woe for Nintendo as profits slip

July 27, 2016

Japanese videogame maker Nintendo, owned by the sixth generation of the Yamauchi family, has reported its worst first quarter loss in five years as it struggles with weak demand and a strong yen.

Japanese videogame maker Nintendo, owned by the sixth generation of the Yamauchi family, has reported its worst first quarter loss in five years as it struggles with weak demand and a stronger yen.

Despite the success of its smartphone game Pokémon Go, which is reportedly making about $1.6 million per day, Nintendo saw revenues fall by 31% to ¥62 billion ($586 million) in the three months to the end of June.

FB Roundup: Lavazza, Fiat Chrysler, and Lotte Group

July 24, 2015

Lavazza to acquire Carte Noire for €800 million; Fiat Chrysler announces Ferrari IPO; and Shin Dong-bin appointed CEO at Lotte Holdings

Lavazza to acquire Carte Noire for €800 million

Lavazza, the family-run Italian coffee maker, has put in a formal bid to acquire French brand Carte Noire for €800 million ($879 million).

According to a company statement, the deal will treble the company’s turnover in France and will help it grow organically in the surrounding regions.