UPDATE 1-Nintendo to release two Pokemon titles for Switch console in late 2019

Japan's Nintendo Co Ltd said on Wednesday that it will release two Pokemon role-playing titles for its Switch console, "Pokemon Sword" and "Pokemon Shield", worldwide in late 2019. The success of the new titles, which will feature new Pokemon including the chimp-like Grookey and the rabbit-like Scorbunny, will be key for driving sales growth of the hybrid home-portable console.

Nintendo shares lost 29 percent of their value last year as investors questioned Switch's ability to appeal beyond hardcore gamers and in January Nintendo slashed its full-year Switch hardware sales forecast. However there are signs of strong demand for Switch software, with two beginner-friendly "Pokemon Let's Go" titles for the console that launched in November shifting 10 million copies in less than two months.

Many analysts see Nintendo's shares as undervalued and the company last week announced a share buyback for the first time since 2014. Its share price is up 7 percent this year. (Reporting by Sam Nussey; Editing by Susan Fenton)