Nintendo president takes 50% pay cut, accepts Nintendo 3DS blame
During a shareholder meeting held in Tokyo today, Nintendo’s global president Satoru Iwata addressed questions as to why the company was cutting the Nintendo 3DS price so soon after launch.
Such factors acknowledged that the price reduction helped retailers plan for the end-of-year sales period, and was an imperative move in keeping developers on board with the Nintendo 3DS. The bottom line, however, was Iwata stressing the importance of software.
Iwata also explained that both himself, directors and other executives are to accept responsiblity for the poor performance of the Nintendo 3DS and will cut their salaries for the year.
“For cuts in fixed salaries, I’m taking a fifty percent cut, other representative directors are taking a 30 percent cut, and other execs are taking a 20 percent cut,” Iwata explained.
For reference, Iwata makes an equivalent of $2 million (£1.2 million) whereas Shigeru Miyamoto earns $1.2 million (£736,000).
He also explained that Nintendo are looking to expand into the digital realm and said that thhe company had been moving into the digital through trial-and-error. Such an expansion is why both the Nintendo 3DS and forthcoming Wii U place emphasis on digital downloads and content. Iwata was keen to reiterate that Nintendo have no plans to sell their games on non-Nintendo platforms.