Konami stock falls on news of MGS4 delay

Konami's stock has dropped following news that Metal Gear Solid 4 has been delayed until after the holiday season.

Bloomberg reported that Konami shares fell 200 Yen, or 5.9 per cent, to 3,190 Yen (approximately USD 27.74).

This was the largest decline for the company's stock in nearly four years.

"Investors were active sellers today because of disappointment over the delay," said analyst Hirotoshi Murakami. "It may be the company's strategy to boost earnings next fiscal year with the game software."

MGS4 was originally scheduled for release this winter, but has now been delayed until Q2 2008.