Nintendo’s Satoru Iwata to take 50 percent pay cut
Nintendo president Satoru Iwata has announced that he will take a 50 percent pay cut between February and June to hold himself to account for the company’s reduced financial forecast.
Nikkei report that other members of the company’s board of directors, which includes Shigeru Miyamoto and Genyo Takeda, will also take a pay cut of between 20 to 30 percent for the same five month period.
Nintendo will then re-evaluate their performance after the five months to see whether their salary should return to normal levels.
Iwata previously took the same pay cut in 2011, after Nintendo had to stimulate 3DS sales by dropping the price of the handheld six months after it launched. Back then it was reported that Iwata made the equivalent of $2 million (£1.2 million) whereas Shigeru Miyamoto earned $1.2 million (£736,000) per year.