Nintendo (NTDOY) Technology Development Center in Kyoto scheduled to open March 2029

Nintendo has updated the name of its new building in Kyoto, Japan and provided more details for its R&D plans.

Nintendo President Shuntaro Furukawa provided an update regarding the new building being developed at the company's Corporate Headquarters in Kyoto, Japan. The Technical Development Center, previously called Corporate Headquarters Development Center, Building No. 2., is set to open in March 2029.

Here's a transcript of the letter posted to the Nintendo Investor Relations website:

Construction of the Technology Development Center
Nintendo Co., Ltd. (HQ: Kyoto, Minami-ku, Japan; Representative Director and President: Shuntaro Furukawa, “Nintendo” hereafter) hereby announces the following information regarding the Technology Development Center, which is currently under construction on the land acquired from the City of Kyoto in 2022.
The Technology Development Center will serve as a new research and development base for Nintendo’s software and hardware. In addition to office space for developers, the facility will have the functions and infrastructure required for future research and development, including development servers, and Nintendo plans to continue investing in the center.
Through the construction of the Technology Development Center and further investment in research and development, Nintendo will continue to create more reasons for consumers to choose Nintendo for unique, family-friendly entertainment, while striving to deliver Nintendo’s unique and original entertainment to everyone around the world.
Construction Overview of the Technology Development Center
   •  Facility name: Nintendo Co., Ltd. Technology Development Center
   •  Location: 11-1 Hokotate-cho, Kamitoba, Minami-ku, Kyoto, Japan
   •  Building area :6,084.00㎡
   •  Floor area: 49,305.87㎡
   •  Height: 67.570m (excluding rooftop structures)
   •  Stories: 9 above ground and 1 below ground
   •  Planned completion date: March 2029
   •  Building construction cost: ¥121 billion (current estimate as stated in the Annual Securities Report)

Nintendo Technology Development Center is expected to cost nearly $750 million and will stand nine stories tall. The company reiterates that this building is part of a "further investment in research and development." With over half a million square feet of office space, it appears that the Big N is investing for the long run.

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