Nintendo Co., Ltd.

Nintendo trades at 0.9x book with 67% of market cap in net cash; publishing Mario and Pokémon on iOS/Android unlocks freemium upside of 97-240%.

Nintendo's real competitor is now mobile; releasing five iOS/Android titles from its catalog would add ~73 billion Yen in annual EBITDA and unlock China's $9 billion gaming market.

Nintendo should port Mario, Zelda and Donkey Kong to iOS/Android and buy a free-to-play studio — the casual gamer has moved to mobile, where $100bn of attention value awaits.