NTDOY is not equal to 7974! NTDOY equals the price of 7974 divided by 8 multiplied by the Yen to dollar exchange rate. The price of 7974 is 9170.
9170 / 8 = 1146.25. Now apply the Y/$ rate (1/88 = .0113636) so 1146.25 * .0113636 = $13.025
The key is the Nintendo ordinary shares are priced in a different currency so the movements in NTDOY are based on the movements of 7974 PLUS the Yen to dollar movement. No offense but you should not invest in something you do not understand. What is happening here is the literal dollar value of NTDOY is decreasing but the increase in Nintendos revenues are not being priced into the value of the equity 7974.
Thanks for clearing that up. I was not fully aware of that correlation between 7974 and ntdoy. It always seemed to me in the past while checking both that whatever percentage up or down 7974 was the night before roughly translated in the percentage movement of NTDOY the next day.