What this is
Estimated payouts to Niantic’s 2015 investors when its games were sold in 2025: Nintendo about $235m (6.1% of the $3.85bn), The Pokémon Company perhaps $171–173m.
How it’s built
- Nintendo: its filed proceeds of ¥33.8bn, converted at the closing-day rate of ¥144.09 per dollar.
- The Pokémon Company: its ¥23.8bn one-off gain plus an assumed cost of ¥0.78–1.16bn.
- Google’s share cannot be estimated from any document.
What we assumed
- The Pokémon Company’s whole ¥23.8bn gain came from Niantic.No document says so; it is the research’s leading reading, at about 68%.
- Its cost was $6.66m at the 2015 rate, or the same as Nintendo’s.Press reports describe equal 2015 tickets; the actual cost is not disclosed.
- The $3.85bn pool includes a $350m extra payout.If that was paid as a dividend, the pool is $3.5bn and each share rises by about a tenth.
Sanity check
These are shares of the payout, not shareholdings: no investor’s stake percentage has ever been disclosed, and liquidation preferences are unknown.
The value
- Nintendo plus TPC share of 3850: 10.5 to 10.6%
Some detail is too fine to show here; it is kept in the trainer’s notes.
Where it comes from
Our calculation from other figures in the trainer’s notes:
- FiledJpy per usd h10 29 May 2025, 29 May 2025144 ¥ per $
- EstimateUsd350m leg if paid as dividend test, year to February 2026 / year to March 2026
- EstimateStake percentages of Nintendo, TPC, Google: negative search, 2015-2025
- EstimateStake disclosure status, August 2026
- EstimateCap table / liquidation preferences, March 2025
- EstimateNintendo proceeds 33827 in usd and share of deal, year to March 2026 window; rates May 2025
Show the working
- 33,827/144.09 = $234.8m
- /3,850 = 6.10%
- (23,809+775)/144.09 = $170.6m
- /3,850 = 4.43%
- 234.8/10 = 23.5×
Where it’s used
Related figures
Built from this one