The Tool Desk
Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →iTechGuides is reader-supported. When you buy through links on our site, we may earn an affiliate commission. As an Amazon Associate I earn from qualifying purchases. Learn more
NTDOY returns in dollars are driven by three layers: Nintendo’s ordinary-share performance in yen, the yen–dollar exchange rate, and the ADR’s ratio, trading friction and fees. A weaker yen reduces the dollar value of an unchanged yen share price; a stronger yen increases it. Dividend withholding, depositary charges, foreign-exchange spreads and broker costs then reduce the cash you actually keep.
What NTDOY represents
NTDOY is Nintendo’s American depositary receipt (ADR), traded over the counter rather than on a U.S. stock exchange. Citi and BNY Mellon are the depositaries named in the current records. The security therefore combines an underlying Nintendo ordinary share in Japan with a U.S.-dollar trading line and a depositary contract.
The supplied price-translation convention is that one DR represents four Nintendo ordinary shares. On that basis, the pre-cost fair-value relationship is:
Quick wins for a faster PC:
Clear out junk files and repair common Windows errorsFree Scan →Scan for outdated or missing drivers - takes under a minuteDriver Scan →ADR value in USD ≈ (Nintendo ordinary-share price in JPY × 4) ÷ JPY-per-USD exchange rate
#1 Best Overall
- Powerful Turbo Fan:CAGIWIRU Electric Air Duster have reached speed up to 130000RPM,Can efficient remove dust and debris.With LED light and Three Adjustable Speed to meet with different cleaning tasks.
- With Attached USB C Fasting Charging cable.Charing 3 hours,Enjoy up to 240 minutes of use on the lowest setting, For third speed can use for 25mins.with four charging options to meet with your needs.
- Wide Application: attached 5 different nozzles,making it suitable for a variety of scenes, such as car,pet, pc, keyboards, and other electronic devices. It also serves for office and home clean duster.
- Handy Design & Portable:Cordless air duster electric nozzle is Light weight and small size, design and comfortable to hold and space saving, convenient to carry around. You can put it in your room or inside the car without taking up space.
- Economical &Reusable: Built durable materials with a long-lasting battery,our CAGIWIRU air duster it's a sustainable alternative to disposable air cans.
BNY Mellon’s directory displays the ratio as “DR:ORD | 4:1,” while Citi’s dividend notices show an ordinary rate divided by four to arrive at an ADR rate. Those labels use different directions for the ratio. Because a ratio error changes both the share-price and dividend calculation by a factor of four, confirm the current deposit agreement and use the depositary’s distribution notice for each payment. Do not assume that a ratio printed in one document is expressed in the same direction as a ratio printed in another.
How the yen changes a dollar return
Yen weakness lowers the translated value
Let E be the number of yen required to buy one U.S. dollar. If E rises, the yen has weakened. More yen are then needed to buy each dollar, so the same yen-denominated Nintendo price converts into fewer dollars.
For example, if Nintendo trades at JPY 8,000 and the exchange rate is JPY 150 per USD, the four-share translation is approximately $213.33 (8,000 × 4 ÷ 150). If the ordinary share remains at JPY 8,000 but the rate moves to JPY 160, the translation falls to $200.00. That is a 6.25% decline in the dollar value even though the Japanese share price did not move.
Yen strength raises the translated value
If the rate falls from JPY 150 to JPY 140 per USD, the same JPY 8,000 ordinary price translates to approximately $228.57. The dollar value rises about 7.14% solely because the yen strengthened.
Local and currency returns compound
For price returns, the exact relationship under the four-share convention is:
Rank #2
- Screen Cleaner is Your Screen’s New Bestfriend! - EVEO is proud to present a screen cleaner that’s perfectly suited for your TV. Meet your new screen cleaner, computer screen cleaner, laptop cleaner, iPad cleaner, Macbook,tv cleaner or any other electronic device. Our screen cleaner spray and wipe along with the included plush microfiber cloth, easily removes dust, fingerprints & other smudges on the screen’s surface. Clean effectively for a streak-free screen
- Gentle on your Screens - Our screen cleaner spray and wipes is compatible to be used even for the most sensitive LCD, LED, CRT, and OLED screens in proper use. Be at ease knowing that this product is compatible with all the major brands: LG, SONY, Samsung, Sharp, iPad, iPhone, Android screens, Kindle, PC monitors - we’ve got you covered! Can be used as LCD screen cleaner, tv cleaner, smart tv screen cleaner, and more
- Premium Super Soft Plush Microfiber Cloth - Included in this efficient screen cleaning kit. This screen cleaner spray and wipe has our signature plush microfiber cloth specially designed to comply with screens and monitors and leave them streak-free. Has been shown to effectively absorbs stubborn stains, zero streaks, and no fiber shedding. Always use this together with our screen cleaner for the best results
- Easy-to-Use Screen Cleaner Kit + microfiber cleaning cloth - The EVEO Screen Cleaning Kit will easily be your new favorite tool when it comes to taking care of the things you love most, quick and easy solution for a streak-free screen. Simply screw on the sprayer gun on the screen cleaner bottle. Spray the cleaning liquid onto the microfiber cloth, then wipe the screen until desired cleanliness & shine is achieved.
- Quality Screen Care Kit Worth Purchasing - Enjoy a convenient Screen Cleaner anytime, anywhere you need it. Your satisfaction is our top priority. We stand behind the quality of our products and that’s why, you shouldn’t be worrying at all. We manufacture the Best Screen Cleaner. and can be used for laptop cleaning kit, laptop screen cleaner, tv screen cleaner for smart tv. MacBook screen cleaner, monitor cleaner or screen cleaner spray for electronic devices with microfiber cleaning cloth
USD price return = (ordinary-price₁ ÷ ordinary-price₀) × (E₀ ÷ E₁) − 1
Suppose Nintendo rises 10% in Tokyo, from JPY 8,000 to JPY 8,800, while the yen weakens from JPY 150 to JPY 160 per dollar. The translated ADR value moves from about $213.33 to $220.00, a dollar gain of roughly 3.13%, not 10%. The local gain and the currency loss compound rather than simply adding or subtracting.
Why an ADR dividend can be lower than the Japanese dividend
A Japanese dividend is declared in yen on an ordinary share. An ADR distribution must apply the depositary’s ratio, convert the resulting amount into dollars at a specified rate, and deduct charges and any withholding before it reaches your account. The amount shown in a broker’s yield calculation may therefore differ materially from Nintendo’s announced yen dividend.
Citi’s 2 December 2025 notice illustrates the process. It records an ordinary dividend of JPY 42, a conversion rate of JPY 155.2098 per USD and the wording “ORD Rate 42.00 / 4 = ADR Rate of 10.5000000000.” Dividing that ADR-equivalent yen amount by the stated conversion rate produces a gross ADR rate of $0.0676500. The notice also lists a cash-dividend fee of $0.0135300. Before withholding, the illustrative amount after that fee is $0.0541200 per ADR.
The same notice demonstrates why the date matters: using a different FX rate, or applying the ratio in the wrong direction, produces a different dollar dividend even when the yen dividend is unchanged. Citi’s 30 June 2025 notice records an ordinary dividend of JPY 85 and a JPY 144.779-per-USD conversion rate. It lists a cash-dividend fee of $0.0293550 and gives example net rates for different withholding brackets. The gross and net amounts for each distribution must be taken from that distribution’s notice; do not carry December’s rate or fee into June, or vice versa.
Rank #3
- 【Large size】：Measuring 800 x 300 mm/ 31. 5×12 inches, which is wider and taller than others. Large mouse pad can perfectly fit your keyboard and mouse of any size, and there is also ample space for peripherals such as phones, tablets, etc.
- 【LED backlight mouse pad】：Blade Hawks RGB mouse pad provides 7 static modes and 7 dynamic modes will give you the options you are looking for. Power-off memory function remembers the last lighting mode you selected. The super glow fiber Chroma will give you a colorful gaming setup that you want.
- 【Anti-slip rubber base】：Made from Natural rubber, this gaming mousepad will firmly grip your desktop, allowing you to enjoy the ultimate precision in the games you are most passionate about. It also comes with a texture that enhances this ability even further.
- 【Smooth and waterproof surface】: Micro-textured cloth surface, for extremely precise mouse control and a smooth movement. When liquid splashes on the gaming mouse pad, it forms water droplets and slides down. Will not delay your work or gameplay.
- 【Plug and play】: This mouse and keyboard pad is powered by USB, plug and play, no driver required. One button control light modes. Press one time to change the lighting mode, press twice to change the brightness, press and hold about 3 seconds turn ON/OFF.
The complete fee stack
| Cost or adjustment | What it does | Evidence or qualification |
|---|---|---|
| Cash-dividend fee | Deducted from a distribution before it is credited. | Citi listed $0.0135300 on the 2 December 2025 notice and $0.0293550 on the 30 June 2025 notice. |
| Annual depositary service fee | May be collected separately or deducted from a distribution, depending on the deposit agreement and collection method. | BNY Mellon lists “up to $0.1000” per ADS. This is a published ceiling, not a guarantee of the amount charged on every date. |
| Withholding tax | Reduces the dividend after the depositary’s deductions; the rate depends on your residence, account type and completed tax documentation. | Citi’s notices show example net rates by withholding bracket. No universal investor tax result applies. |
| FX conversion spread | The rate used by a broker or depositary may be less favorable than a mid-market quotation. | The applicable rate and timestamp vary by payment and intermediary. |
| Broker charges | Commission, regulatory charges, custody fees or foreign-market handling costs can reduce the return. | These vary by broker and account; no universal schedule is established here. |
| Bid–ask spread and liquidity | The execution price can be below the displayed offer when buying or above the displayed bid when selling. | NTDOY trades OTC, so spreads and available size can differ from Tokyo-market conditions. |
For a simple dividend calculation, use:
cash received = (gross ADR dividend − cash-dividend fee) × (1 − applicable withholding rate) − any other account charges
For a full holding-period result, include both price and cash:
total USD return = (ending ADR value − starting ADR value + net dividends) ÷ starting ADR value
NTDOY versus Nintendo’s Tokyo-listed shares
The two lines give exposure to the same company, but they do not deliver the same investor experience. Compare them on the dimensions below rather than comparing headline prices or yields.
| Dimension | NTDOY ADR | Tokyo-listed ordinary share |
|---|---|---|
| Trading currency | U.S. dollars in the OTC market. | Japanese yen on the Tokyo market. |
| Currency exposure for a U.S.-dollar investor | Still exposed to the yen because the underlying value is yen-denominated; the ADR quotation does not remove FX risk. | Direct yen exposure; the investor or broker must convert when measuring returns in dollars. |
| Share ratio | Apply the current depositary ratio; the supplied price convention uses four ordinary shares per DR, while published documents may print the ratio in the opposite direction. | One ordinary share is the reference security. |
| Dividend processing | Depositary converts the payment, applies the ratio, deducts its fee and passes through withholding. | Dividend is declared and paid through the Japanese market’s process, with the investor’s broker handling conversion and tax reporting. |
| Liquidity and spread | OTC liquidity, quoted size and spreads can differ from Tokyo. | Trading takes place in the primary Japanese listing’s market hours and order book. |
| Depositary fee | BNY Mellon publishes an annual service-fee ceiling of up to $0.1000 per ADS; the actual charge and date require confirmation. | No ADR depositary fee, although local custody, conversion and broker charges may apply. |
| Access and administration | Often simpler for an account already enabled for U.S. securities, subject to the broker’s OTC policy. | Requires access to Japanese securities and the broker’s handling of yen, local settlement and Japanese-market rules. |
An ADR can be operationally convenient, but convenience does not eliminate currency, withholding or fee drag. A Tokyo share can provide a cleaner view of the local yen return, yet a dollar-based investor must still measure the final result after converting that return.
Recommended Free Tools
Rank #4
- 【Softer and More Comfortable】Vaydeer wrist rest has unique diamond pattern, which is the combination of softness and aesthetics. The materials of wrist rest are improved into higher quality memory foam and covered with silky smooth lycra. The computer wrist rest makes you as comfortable and cushiony as like rest your wrists on clouds.
- 【Ergonomic Wrist Saver】The wrist rests for keyboard and mouse comes with a 17.32×3.15×0.83 inch keyboard wrist pad and a 5.94×3.15×0.83 inch mouse wrist support. Based on ergonomic design, the unique concave shape is the perfect fit for your wrist joints. The wrist rest pad fits most computer keyboards and laptops, improve hand and wrist posture, release your wrist and arm stress.
- 【Non-Slip Rubber Bottom】Featuring an anti-skid silicone base on the bottom, this wrist keyboard support stays firmly in place on your desk, preventing the padding from sliding around, ensuring stable and consistent wrist support during extended computer sessions.
- 【Better Experience & Pain Relief】Our keyboard arm rest is beneficial to alleviate the soreness caused by direct contact and friction between your arm and a hard desk surface, reducing the risk of wrist fatigue or carpal tunnel. The soft texture of memory foam can evenly distribute the pressure around your wrists and provide good support with just enough give.
- 【Helpful in Multiple Scenarios】Whether you're working, studying, writing, typing, gaming, this keyboard and mouse rest combo is an essential accessory to add comfort and support to your hands and wrists. It’s also a great gift for men, women, family, friend, coworker, gamer, teacher, etc.
A step-by-step way to calculate your own return
- Record the dates and prices. Write down the NTDOY purchase and sale prices in dollars, the corresponding Tokyo ordinary-share prices in yen, and the time of each quotation. Avoid mixing an intraday ADR quote with a Tokyo close from a different session.
- Record the FX convention. Use JPY per USD, not USD per JPY, and label whether the rate is a market close, a depositary conversion rate or a broker’s executable rate.
- Confirm the ratio. Check the current deposit agreement or depositary notice. Apply the four-share multiplier only when that is the confirmed price ratio; for dividends, use the ADR rate printed on the distribution notice.
- Calculate the translated starting and ending values. Under the supplied convention, divide each ordinary-share price multiplied by four by its matching JPY-per-USD rate.
- Add distributions using the actual cash credited. Start with the notice’s gross ADR rate, subtract the stated cash-dividend fee and withholding, then subtract any broker charge. Do not substitute the Japanese per-share dividend for the ADR cash amount.
- Compute total return. Add net dividends to the ending value, subtract the starting value, and divide by the starting value. Keep a separate line for each dividend date so that each conversion rate and fee remains attached to the correct payment.
- Run a sensitivity check. Recalculate with the yen 5% stronger and 5% weaker, holding the local share price constant. This shows how much of the result is currency exposure rather than Nintendo operating performance.
Worked dividend and currency examples
Unchanged shares, weaker yen
Using the JPY 8,000 example, an exchange-rate move from JPY 150 to JPY 160 lowers the translated value from about $213.33 to $200.00. If a dividend is paid during the period, add the net dollar dividend separately; it does not reverse the capital-value effect of the currency move.
Local gain partly offset by FX
A 10% rise in the ordinary share combined with a move from JPY 150 to JPY 160 per dollar produces an ADR price return of about 3.13%. An investor who looked only at the Tokyo percentage would overstate the dollar result.
Dividend fee before withholding
For Citi’s 2 December 2025 figures, the $0.0676500 gross ADR rate less the $0.0135300 cash-dividend fee leaves $0.0541200 before withholding. If your applicable withholding rate is w, the amount after withholding is $0.0541200 × (1 − w), before any separate broker charge. Your account statement, not a generic yield website, is the authoritative record of the final credit.
Why NTDOY can temporarily diverge from a Tokyo-based calculation
- Different market hours: Tokyo may be closed while OTC trading continues, so the ADR can incorporate new information before the underlying market opens.
- Uneven liquidity: A small OTC order can move the quoted price more than a similarly sized order in Tokyo.
- Bid–ask effects: A theoretical conversion uses a single price, while an investor buys at the offer and sells at the bid.
- FX timing: The depositary’s conversion rate for a dividend may be fixed at a particular time, not the rate shown in your currency app when you check the payment.
- Temporary premiums or discounts: Supply and demand for the ADR can move it away from the converted ordinary-share value until arbitrage and settlement close the gap.
- Corporate actions and settlement: Depositary processing dates can differ from the Japanese record and payment dates, affecting when a holder is entitled to cash.
Common mistakes to avoid
Comparing yields without matching the FX date
A yen dividend divided by today’s exchange rate is not necessarily the dollar dividend that was paid. Use the conversion rate and date in the depositary notice.
Free tools Windows power users keep installed
One-click scans. No signup required.
Treating the $0.1000 fee ceiling as a guaranteed annual bill
BNY Mellon’s “up to $0.1000” wording is a maximum published service-fee amount. Check the current agreement or broker notice for whether a fee is charged, how much it is and when it is collected.
Best Value
- 【No Drill Mounted】Cable management tray can be assembled in as little as 3 minutes or less-simply. Side clips easily clampe the edge of desk, pass through the holes on the sides, and secure excess cables with baskets. Desk cable management supports inward or outward installation to meet your needs in different scenarios, and provides you with great convenience when collecting and organizing wires.
- 【Rubber Pad Protects Desk】Wire organizer under desk built-in soft rubber pads on the clamp protect your desk from scratches, so you will not damage your furniture or office.
- 【Sturdy and Beautiful】Cord management under desk is made of high-quality carbon steel and holds about 15 lbs. The wire basket has 2 holes on each side of the tray to enable your cables to pass freely. Cable baskets are suitable for desk thickness use from 0.4" to 2.4".
- 【Space Saving & Keep Organized】Desk cable management tray holds all your power cords, outlet strips, USB hubs and computer transformers hidden from your feet, and the data cables will not enter the vacuum cleaner to keep your desk clean and tidy. Desk wire organizer is also suitable for use in the kitchen and outdoors.
- 【Reduce Safety Risks】Cable tray under desk keeps all plugs away from your kids, no more worry about tripping. Using 2 holes wire tray saves extra space, helps you easily cabling and wire protection. The mesh design is not easy to accumulate dust, but avoids safety accidents caused by messy wires.
Assuming the cash-dividend fee is a fixed percentage
The two 2025 Citi notices list different dollar fees: $0.0135300 for the JPY 42 distribution and $0.0293550 for the JPY 85 distribution. Use the number on the relevant notice rather than extrapolating from a prior payment.
Applying the ratio backwards
Ratio notation can be written as DR-to-ordinary or ordinary-to-DR. Verify which security is the numerator. The safest practice is to use the depositary’s stated ADR rate for dividends and the confirmed current ratio for price translation.
Ignoring your own tax and broker terms
Withholding, reclaim eligibility, foreign-currency conversion and account fees depend on jurisdiction and account setup. Two investors can receive different net returns from the same gross ADR distribution.
What to check before buying or selling
- Confirm that the quote is NTDOY, the OTC DR symbol listed by BNY Mellon, and check the available bid size and spread.
- Read the latest depositary notice for the ratio, dividend amount, conversion rate, cash-dividend fee and payment date.
- Ask your broker how OTC commissions, custody charges and foreign-currency conversion are applied.
- Record the exchange rate used for both purchase valuation and each dividend; do not rely on an unlabelled “current” rate.
- Model a stronger-yen and weaker-yen case before deciding whether the ADR’s dollar convenience outweighs its tracking and fee costs.
- Keep the gross, fee, withholding and net figures separate in your records so that the realized return can be reconciled to the account statement.
Where the official records fit
Nintendo’s investor-relations archive provides company reports for FY2026, FY2025 and FY2024, which are useful for understanding the ordinary share’s operating and dividend context. The SEC Form F-6 supplies the regulatory registration framework for the ADR. Neither source removes the need to check the latest depositary notice: the applicable ratio, FX conversion and fee deductions are distribution- and account-specific.
Bottom line
NTDOY is not a pure Nintendo share-price bet in dollars. Its return is the local yen return multiplied by the yen–dollar translation, then adjusted for OTC spreads, depositary processing, dividend fees, withholding, FX conversion and broker charges. A weaker yen can erase part of a Tokyo gain; a stronger yen can amplify it. Calculate each purchase, sale and dividend with the matching exchange rate and the current depositary terms before comparing NTDOY with a Tokyo-listed share.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
