Nintendo Co (TYO:7974) will release its next-generation console, the Nintendo Switch 2, on June 5, in Japan at 49,980 yen, according to an April 2 Tokyo bourse filing.

The new game system features a larger screen, magnetic Joy-Con controllers, and enhanced processing power, the filing said.

Nintendo's shares shed nearly 8% at market close.

Price (JPY): $9194.00, Change: $-780, Percent Change: -7.85%