History of Nintendo card business reached its saturation point. Japanese households stopped buying playing cards, and the price of Nintendo stock fell from 900 yen to 60 yen. In 1965, Nintendo hired Gunpei Yokoi as a maintenance engineer for the assembly line. However, Yokoi soon became famous for much more than his ability to repair conveyor belts. Nintendo struggled to survive in the Japanese toy industry; it was still small at this point, and dominated by already well-established companies such as Bandai and Tomy. Because of the generally short product life cycle of toys, the company always had to come up with new
S corporation if it: A limited liability company (LLC) is eligible to be taxed as an S corporation under the check-the-box regulations at § 301.7701-2. The LLC first elects to be taxed as a corporation, at which point it becomes a corporation for tax purposes; then it makes the S corporation election under section 1362(a). Shareholders must be U.S. citizens or residents (not nonresident aliens), and must be natural persons, so corporations and partnerships are ineligible shareholders. However, certain trusts, estates, and tax-exempt corporations, notably 501(c)(3) corporations, are permitted to be shareholders. An S corporation may be a shareholder in another, subsidiary