What this is
Nintendo's carrying at sale 1,163 at ≈¥120/$ (Oct-2015) ≈ $9.7m — already ≈half of the $20m upfront round.
The values
- Nintendo cost: ¥1,163m
- Nintendo cost $ million at 120: 9.7
- Round: 20 upfront + 10 milestones
- Group cost needed for 1 5x: ≈14.5–15.5 (same multiple as Nintendo)
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:
- FiledThe book cost of the unlisted stake Nintendo sold in the year to March 2026¥1.16bn
- EstimateA scale test
Show the working
- 1,163/120 ≈ $9.7m
- group proceeds $349–373m at Nintendo's ≈29× proceeds/cost multiple ⇒ group cost ≈$12–13m
- at 1.5–1.6× Nintendo's position ⇒ ≈$15m of a $20–30m round