McDonald’s Japan shares are soaring after the fast food restaurant closed a sponsorship deal with Pokemon GO.
The McDonald’s Holdings Company (Japan) Ltd shares are up 20% to 3700 Yen since Monday.
The local deal, which has been rumoured for two days, was confirmed by McDonald’s in Japan. So far, there’s no sign of McDonald’s in other countries following Japan.
The 3000 McDonald’s restaurants in Japan will become game centres for Pokemon GO, the hit game which still hasn’t been released in Japan where it was developed.
The app was due to be launched in Japan this week but this was cancelled, apparently over fears that high demand would soon overload the system.
Shares in Japanese tech giant Nintendo more than doubled in value since the launch of Pokemon Go on July 6, putting its market value on Tuesday at $US42 billion.
However, yesterday the shares started to slide, dropping more than 12% is one day. Today they have recovered some of that lost ground, adding 3.6% to 28,775.0.