Shares in Nintendo skyrocketed in response to the enormous success of Pokémon Go, but the price of its stock has now plummeted following a statement clarifying just how little Nintendo has to do with Niantic and The Pokémon Company's worldwide phenomenon.

In the weeks since the game began its slow global launch in Australia, New Zealand and the United States, Nintendo's share price surged to its highest level in over 30 years but after trading closed on Friday 22 July, the company issued a statement clarifying its position.

More about video games

As trading opened earlier today (25 July) in Tokyo, Nintendo's stock dropped 17% representing ¥708 billion ($6.7 billion, £4.9 million) in value. The stock value is still much higher than it was prior to the release of the game, however.

Nintendo owns only 32% of The Pokémon Company – which owns the license and collaborated with developer Niantic to make the game.

The gaming giant is however producing the Pokémon Go Plus peripheral – which can be used in tandem with the game and launches on 31 July.

The sale of that accessory, Nintendo says, was already considered as part of its current financial forecast.

According to David Gibson, analyst at Macquarie Securities Nintendo has an "effective economic stake" of around 13%.

Pokémon Go uses location data and augmented reality technology to bring the Pokémon experience to the real world.

It has proved enormously popular. Multiple reports have claimed numerous region or platform-specific figures, but these are unverified. What's certain is that it has been downloaded millions of times already, and generated huge revenue from micro-transactions.

For all the latest video game news follow us on Twitter @IBTGamesUK

Pokemon Pokemon Go Nintendo