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Nintendo shares fell 7.85% and Sony shares fell 10.04% on April 7, 2025, according to contemporaneous market coverage aggregated by Techmeme. The declines came amid a broader Japanese market selloff and escalating tariff uncertainty. The figures describe a historical market move—not current share prices—and do not establish that tariffs alone caused either stock’s decline.
How steep was the April 7 selloff?
The reported declines for Nintendo and Sony were substantial, but they unfolded against much broader market weakness. Daiwa Asset Management said the Nikkei 225 had fallen 2,189 points, or 6.48%, by the close of its morning session on April 7. That is a morning-session comparison with the previous day, not the index’s final close. In its April 7 market letter, Daiwa wrote: “Consequently, the Nikkei 225 index on April 7th has continued its sharp decline, closing the morning session down 2,189 points (6.48%) from the previous day.”
| Measure | Reported move | What the figure covers |
|---|---|---|
| Nintendo shares | Down 7.85% | April 7, 2025; reported in contemporaneous coverage aggregated by Techmeme. |
| Sony shares | Down 10.04% | April 7, 2025; reported in contemporaneous coverage aggregated by Techmeme. |
| Nikkei 225 | Down 2,189 points, or 6.48% | Through the April 7, 2025 morning-session close, compared with the previous day; Daiwa Asset Management. |
Why tariffs worried investors in the games industry
Tariffs can matter to game companies through more than one route. If imported consoles face higher costs, companies may absorb some of the expense, accept lower margins, or consider raising selling prices. Higher prices could in turn weigh on demand. Supply chains involving China were part of the concern described in a March 7, 2025 Japan Times report, which covered investor worries about possible US console price increases due to import costs.
Those concerns were forward-looking, not proof that a specific tariff cost had already been realized by Nintendo or Sony on April 7. The same report noted that Japanese gaming shares had significantly outperformed TOPIX earlier in 2025, making their reversal notable. Daiwa, meanwhile, discussed the broader risk that trade contraction could weaken earnings at export-dependent companies, while emphasizing that uncertainty and market sentiment were still evolving.
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What the share-price moves do—and do not—show
A falling share price records investors’ changing expectations; it does not isolate the cause. The market reports cited here do not break down how much of Nintendo’s or Sony’s decline reflected tariff expectations, general risk aversion, expected earnings, or other factors. Tariffs were part of the market context, but the evidence does not show that they were the sole cause of either company’s move.
It is also important to separate the April selloff from later company disclosures. In a November 2025 filing with the SEC, Sony estimated that tariffs would affect FY2025 operating income by ¥50 billion, revising its August estimate of ¥70 billion. That later estimate is company-specific context about a forecasted impact; it is not a measurement of what caused Sony’s April 7 share-price decline. The estimate appears in Sony Group Corporation’s SEC filing.
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Why this is a dated market story
The April 7, 2025 declines should not be read as a continuing or current market condition. For example, the Associated Press reported that Nintendo shares rose 3.6% after the company’s May 2026 earnings announcement. That later move does not explain the earlier selloff; it illustrates why market prices and the events investors respond to change over time. See the Associated Press report.
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