Nikkei 225 up 1.58%; Tencent’s Timi Earned $10B in 2020

Nikkei 225 up 1.58%; Tencent’s Timi Earned $10B in 2020

Japanese stocks were higher after the close on Friday’s trade. Sectors such as the Paper & Pulp, Railway & Bus and Real Estate, led shares higher.

The Nikkei 225 rose 1.58% at the close in Tokyo.

The session’s best performers on the Nikkei 225 were Sony Corp. They climbed 4.72% or 550.0 points to trade at 12200.0 at the close. 

Moreover, Nitto Denko Co rose 4.57% or 430.0 points to end at 9840.0. Taiyo Yuden Co., Ltd. added 4.50% or 240.0 points to 5570.0 in late trade.

The session’s worst performers were CyberAgent Inc., dropping 3.42% or 69.0 points to trade at 1951.0 at the close. 

Additionally, Kansai Electric Power Co Inc lost 3.01% or 35.0 points to end at 1129.0. Marubeni Corp. shed 2.45% or 22.3 points to 889.0.

On the Tokyo Stock Exchange, the number of rising stocks exceeded the number of declining ones by 2081 to 1440, while 216 ended unchanged.

The Nikkei Volatility was unchanged from 0% to 21.04.

Tencent’s Timi Generated $10B in 2020

Tencent’s Timi Studios is the maker of popular video games Honor of Kings and Call of Duty Mobile. The Chinese tech giant generated revenue of $10 billion last year, according to sources.

The $10 billion figure would make the video game maker Timi the world’s largest developer. 

It also provides a strong basis for moving beyond mobile games. Furthermore, to directly compete with global heavyweights that develop expensive “AAA” titles on platforms.

These include desktop computers, Sony PlayStation, Nintendo’s Switch, and Microsoft Xbox.

In a March recruitment notice, a Timi engineer wrote that the company was aiming to create a new AAA game. The game resembles the virtual community from the movie Ready Player One. Moreover, it will compete head-to-head against big powers from Japan, Korea, Europe and the U.S.

Tencent is building studios overseas both in Los Angeles. Its goal is to create content with original intellectual property that has global appeal. That includes one for Timi and another for Lightspeed and Quantum.

Eventually, Tencent aims to derive half of its game revenue from overseas. That is from the most recent available figure 23 percent in Q4 of 2019.

Many major studios are turning to Tencent for support in converting their “hardcore” desktop or console games to mobile. These games feature extended sessions and in-depth storytelling or battles. Some include multiplayer online role-playing or online battle arenas.