Nintendo urged to develop mobile games by hedge fund shareholder
HONG KONG Feb 26 (Reuters) - Seth Fischer, one of Asia's best-known hedge fund managers, wrote to Nintendo Co Ltd on Wednesday urging the company to develop and sell games for mobile platforms run by Apple Inc and Google Inc.
The letter is the second that Hong Kong-based Oasis Management Co Ltd has sent to Nintendo, in which it owns shares, adding pressure on the Japanese company to branch out from its underperforming consoles.
Oasis is pushing Nintendo to capitalise on the spread of smartphones and tablets by releasing games that can be played on any mobile device.
"Nintendo needs to embrace this thematic change in consumer demand, behaviour and expectations to stay relevant," said Fischer, Oasis' chief investment officer, in a letter obtained by Reuters.
Fischer, who once managed $3.3 billion for DKR Soundshore Oasis Fund, opened his own hedge fund in 2011. The fund manages about $200 million and holds Nintendo shares. (Reporting by Nishant Kumar; Editing by Michael Flaherty and Christopher Cushing)
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