Miitomo isn’t printing money for Nintendo yet, but investors don’t care

Nintendo’s first mobile game is the most downloaded smartphone application for iOS and Android in Japan, but that isn’t exactly bringing in the big bucks.

Miitomo is the 176th highest-grossing iPhone application in Japan today, according to intelligence firm Sensor Tower and market-tracking firm App Annie. On Google Play, the Android app market, Miitomo is way down at No. 268 in terms of revenue. That is a long way from the top two or three games that generate the bulk of the money spent on smartphone games and applications in Japan. Despite its lacking monetary performance, investors rewarded Nintendo for the strong app launch by bumping the company’s share price more than 8 percent this morning. Stockholders obviously think Nintendo has what it takes to dominate the $34.8 billion mobile gaming sector, and they don’t care that Miitomo isn’t making money yet.