TOKYO (AP) — Asian shares were mixed on Wednesday after U.S. stocks held relatively steady on Wall Street.

U.S. futures and oil prices slipped, while the yen weakened further against the U.S. dollar.

Tokyo’s Nikkei 225 lost 1.6% to 38,202.37.

Nintendo Co.’s share price sank 5.4% after the company’s forecasts disappointed investors and it announced that news of a successor product to its popular Switch device will be made by March 2025.

Sony Corp. shed 5% amid speculation over a potential buyout of Paramount Global by Sony Pictures and the private equity firm Apollo Global Management.

Market players are watching to see how authorities react to the yen’s persisting weakness against the U.S. dollar.

The dollar rose to 155.20 Japanese yen from 154.50 yen. Japanese officials have expressed concern after the yen’s value slipped to 160.25 per dollar in recent days, prompting the Ministry of Finance to intervene.