Nintendo saw its stock fall eight percent in Tokyo — the biggest drop in two years — after the game giant was excluded from the Nikkei 255 Stock Average.
Nintendo was expected to enter the Nikkei 225, Japan’s most prominent average of equities, as the company’s stock hit a two-year high in July in anticipation of the move.
But that didn’t happen, and the shares took a hit. Membership review for the Nikkei 225 happens once per year, so Nintendo will need to wait another 12 months to be included.
Despite troubles with Wii U sales, Nintendo still posted a net profit of $88 million last quarter. It also recently unveiled a cheaper 2DS handheld device and and reduced the price of the Wii U console by $50 in the buildup to the launch of Sony’s PlayStation 4, which will sell for $399, and Microsoft’s Xbox One, which will sell for $499.