Nintendo Announces Plans for Japan Museum

A man stands in front of Nintendo's logo at the presentation ceremony of its new game console Switch in Tokyo, Japan January 13, 2017. REUTERS/Kim Kyung-Hoon
A man stands in front of Nintendo's logo at the presentation ceremony of its new game console Switch in Tokyo, Japan January 13, 2017. REUTERS/Kim Kyung-Hoon
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Nintendo Announces Plans for Japan Museum

A man stands in front of Nintendo's logo at the presentation ceremony of its new game console Switch in Tokyo, Japan January 13, 2017. REUTERS/Kim Kyung-Hoon
A man stands in front of Nintendo's logo at the presentation ceremony of its new game console Switch in Tokyo, Japan January 13, 2017. REUTERS/Kim Kyung-Hoon

After opening its first-ever theme park this March, Nintendo is giving fans something else to get excited about: a planned "Nintendo Gallery" museum set to open by spring 2024.

The Japanese gaming giant announced Wednesday it plans to repurpose an old factory site in Kyoto, where the firm is based, to exhibit its history and beloved gaming products.

"Nintendo has been discussing the possibility of building a gallery, as a way to share Nintendo's product development history and philosophy with the public," the company said in a statement.

The facility "where Nintendo's historical products will be showcased, and exhibits and experiences will be available" is expected to be completed by March 2024, AFP quoted the statement as saying.

There was little detail yet on what fans of the company behind legends such as Super Mario and Donkey Kong can expect from the museum.

It will be built on the site of a plant located in Kyoto's Uji city, which was built in 1969 and made Western-style playing cards as well as the Japanese playing cards called "hanafuda" that were Nintendo's original bread and butter.

The plant also served as a video game console repair center, but operations were transferred elsewhere in 2016, and Nintendo said it had been brainstorming ways to use the plant ever since.

Nintendo began life in 1889 as a manufacturer of hanafuda cards and launched its first home video game machines, known as TV Game 15 and TV Game 6, in 1977.

The Super Mario Bros. games were launched in 1985, two years after the company began selling its Nintendo Entertainment System console.

Super Nintendo World, the company's first theme park, opened in March after months of pandemic delays. It is part of the Universal Studios Japan complex in Osaka, and features a Mario Kart ride with a real-life Bowser's Castle.



Intel Shares Fall as Dour Forecasts Overshadow CEO’s Turnaround Promises

The Intel logo is seen near computer motherboard in this illustration taken January 8, 2024. (Reuters)
The Intel logo is seen near computer motherboard in this illustration taken January 8, 2024. (Reuters)
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Intel Shares Fall as Dour Forecasts Overshadow CEO’s Turnaround Promises

The Intel logo is seen near computer motherboard in this illustration taken January 8, 2024. (Reuters)
The Intel logo is seen near computer motherboard in this illustration taken January 8, 2024. (Reuters)

Intel's shares fell more than 8% on Friday as the company's weak revenue and profit forecasts overshadowed new CEO Lip-Bu Tan's strategy to revitalize the embattled chipmaker.

Years of bad decisions have left the struggling American chipmaking icon trailing in the lucrative artificial intelligence industry, while a raging Sino-US trade war casts doubt on near-term demand for its PC processors.

Tan on Thursday gave glimpses of his plans to reanimate Intel's culture of innovation by focusing on core engineering, stripping away unnecessary administrative work and cutting workforce.

"Intel is so huge that shifting its course is like turning a battleship – it cannot be done on a dime," Evercore ISI analysts said.

Tan did not provide much detail on how he will restore Intel's leadership position in manufacturing, nor on his plans to attract more external customers to the company's foundry, J.P.Morgan analysts said.

Tan remains focused on the contract manufacturing business and has recently met rival TSMC'S CEO to discuss how the two companies could collaborate.

Executives said first-quarter sales were boosted by customers stockpiling chips as growing tariff tensions between the US and China have made buyers wary of future purchases.

Intel could also stand to benefit if China introduces certain exemptions on US imports given the company's large presence in the Asian country, Ben Barringer, global technology analyst at Quilter Cheviot, said.

AI STRATEGY IN QUESTION

Tan's comments about sharpening Intel's existing products to best suit emerging AI trends have sparked questions on how the company plans to get ahead in the booming artificial intelligence sector and challenge market leader Nvidia.

"Intel needs to streamline fast – they have a lot of investments to make to catch up in AI," Stifel analyst Ruben Roy said.

Historically, Intel has relied on buying startups to further its AI ambitions. Other than Mobileye which Intel spun out a few years ago, the other deals didn't help the company gain much traction.

"Intel should have always had its own internal solution, but it missed the boat and tried to acquire its way into AI," Anshel Sag, principal analyst at Moor Insights & Strategy, said.

One of Intel's biggest missteps was failing to capitalize on the booming demand for AI chips, allowing Nvidia to dominate the market.

Intel now faces an uphill battle in challenging AI heavyweights as it lacks the same level of GPU intellectual property, which is essential for AI workloads, Barringer added.

The company's stock has gained 7.2% so far this year, outperforming Nvidia and Advanced Micro Devices, which have fallen nearly 20% each.

Intel, however, trades at a higher 12-month forward price-to-earnings ratio of 31.37 versus 22.70 for Nvidia and 19.24 for AMD.