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Nintendo’s stock swung from a loss of more than 1 per cent back into the black on Friday on a report that the Japanese games maker planned to double production of its new Switch game console to meet strong demand.

Shares in the company were up 0.3 per cent at ¥25,205 late in the afternoon session after the Wall Street Journal reported the Kyoto-based games maker planned to ramp up production of the Switch. The paper cited unnamed sources as saying Nintendo would double output to 16 million units during the fiscal year starting next month

A Nintendo spokesperson declined to comment when contacted by the The Financial Times.

The company’s stock had been down as much as 1.2 per cent earlier in the day. It is currently up more than 67 per cent from a year ago.

Copyright The Financial Times Limited 2017. All rights reserved.

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