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Japanese video-game maker Nintendo’s net profit jumped 85% in April-September from the year before, as its sales more than doubled following the launch of its hit Switch 2 console in June, the company said Tuesday.Nintendo, based in Japan’s ancient capital of Kyoto, said its profit for the half-year totaled 198.9 billion yen, or $1.3 billion, up from 108.6 billion yen the year before.Sales for the first half of this fiscal year rose to nearly 1.1 trillion yen ($7.1 billion) from 523 billion yen in the same period of 2024.Nintendo, which makes Super Mario and Pokemon games, did not provide a break down of quarterly data.Nintendo’s video game sales were solid, although with no new movies revenue from its content business slowed.Nintendo raised its profit forecast for the full fiscal year through March 2026 to 350 billion yen ($2.3 billion). Previously, it had expected a 300 billion yen ($1.9 billion) profit.It also raised its forecast for Switch 2 machine sales to 19 million units from the earlier 15 million.Nintendo says it had sold more than 10 million Switch 2s by the end of September. Popular Switch 2 game software include “Mario Kart World” and “Donkey Kong Bananza.”Sales of the older Nintendo Switch have fallen, but Switch game sales are still going strong because they can be played on Switch 2 machines.Analysts expect Nintendo’s earnings to stay strong with the upcoming holiday season, when it tends to do well. They also expect key new games in the Pokemon and Kirby franchises.Nintendo stocks, which have been rising relatively steadily over the past year, fell 0.8% on Tuesday. Yuri Kageyama is on Threads: https://www.threads.com/@yurikageyama Yuri Kageyama, AP Business Writer
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E-Commerce
The cloning industry is contractingironically, perhaps. On Tuesday, Colossal Biosciences announced that it has acquired ViaGen Pets and Equine, an animal cloning firm, marking Colossals first acquisition since it launched in 2021. Texas-based Colossal Biosciences is best known for its controversial “de-extinction” endeavors, which involve efforts to recover species that have died out. Earlier this year, the company claimed to have “brought back” dire wolves, an assertion that was disputed by some experts, as the animals were created by modifying the DNA of existing gray wolves. The company has also sparked debates about the ethics of bringing species back from extinction, or if what it’s doing is in fact de-extinction at all. Either way, Colossal has attracted significant interest from high-powered investors, recently raising $120 million to try and resurrect the dodo. Its acquisition of ViaGen adds even more genetic firepower to its arsenal. Colossal is thrilled to welcome ViaGen, the worlds leading cloning company, into our portfolio, said Ben Lamm, founder and CEO of Colossal, in a statement provided to Fast Company. No other company comes close to what ViaGen has achieved. Their unmatched expertise and cloning technology stack have become the worlds standard and their application of these critical and proprietary technologies to endangered species conservation makes them an invaluable partner in advancing our global de-extinction and species preservation mission. Terms of the acquisition were not disclosed. Access to breakthrough technologies ViaGen, a Texas-based company founded in 2002, will continue to operate under its existing leadership and expand its endangered species cloning activity. Perhaps the most interesting element at play is ViaGens exclusive licensing and access to the breakthrough technologies developed by the Roslin Institute of Edinburghsuch as those that cloned Dolly the sheep, the first cloned mammal. Partnering with Colossal Biosciences presents an extraordinary opportunity to apply our advanced cryopreservation and cloning techniques to the ambitious goals of de-extinction and species restoration, said Dr. Shawn Walker, Ph.D., ViaGens chief science officer and known cloning expert, in a statement. Colossal has also attracted a stable of celebrity investors. Retired NFL star Tom Brady, for instance, worked with the company to clone his familys dog, and said in a statement that he is excited how Colossal and ViaGen’s tech together can help both families losing their beloved pets while helping to save endangered species. The potential to save endangered species is something that has others excited, too. Colossal shared a statement from filmmaker Peter Jackson, who said, These two companies together give humanity a real shot at saving the planet’s biodiversity.
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E-Commerce
Denny’s said Monday that it’s being acquired by a group of investors in a deal that will take the breakfast chain private.Denny’s board unanimously approved the deal, which values Denny’s at $620 million including debt. Denny’s will be purchased by private equity investment company TriArtisan Capital Advisors, investment firm Treville Capital and Yadav Enterprises, which is one of Denny’s largest franchisees.Under the agreement, Denny’s shareholders will receive $6.25 per share in cash for each share of Denny’s common stock they own, or a total of $322 million. That represents a 52% premium to Denny’s closing stock price Monday.Denny’s shares jumped 47% in after-hours trading Monday.Denny’s was founded in 1953 in Lakewood, California, as Danny’s Donuts. The name was changed to Denny’s Coffee Shops in 1959 to avoid confusion with another chain. Denny’s began trading on the New York Stock Exchange in 1969.Like many casual chains, Denny’s saw its sales plummet during the COVID pandemic. Once the pandemic eased, it found itself dealing with changing customer dining patterns, including a heavier reliance on delivery. Denny’s has also struggled as newer chains like First Watch promoted healthier breakfast options.Last fall, Denny’s said it planned to close 150 of its lowest-performing locations. At the end of the second quarter, Denny’s had 1,558 restaurants worldwide, including 1,422 Denny’s restaurants and 74 Keke’s restaurants. Denny’s acquired the Keke’s brand in 2022.Denny’s CEO Kelli Valade said the company reached out to more than 40 potential buyers and received multiple offers. Valade said Denny’s board believed the deal announced Monday was in the best interest of shareholders and the best path forward for the company.TriArtisan Co-Founder and Managing Director Rhohit Manocha called Denny’s “an iconic piece of the American dream” with a strong franchise base and loyal customers.“We look forward to working with Kelli and the rest of the Denny’s team and franchisees to provide resources and support the Company’s long-term strategic growth plans,” Manocha said in a statement.If it’s accepted by Denny’s shareholders, the deal is expected to close in the first quarter of 2026. Dee-Ann Durbin, AP Business Writer
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E-Commerce
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