Share Price of Nintendo Receives Billion Dollar Boost from Labo Toy Launch

Quirky, low-key toys that are made out of elastic bands and hardboard have provided Nintendo with a boost that is worth more than $1bn.

The gaming company from that originated from Japan has unveiled Labo. The latest toy offering of Nintendo is a series of cardboard templates that can easily be turned into a sword, a typewriter, or maybe a piano, that has origami-like construction, which can fit with the company’s Switch gaming console.

The decidedly non-technical accessories are scheduled for release in April. According to the FT, it reportedly added $1.4bn to the market cap of the company,  as the share price of the company sprung up by over two percent.

The Switch became the fastest selling games console in the history of the United States at the beginning of the year, surpassing the records of its previous bestselling Wii.