Nintendo’s Iwata Admits “Wii U Isn’t In Good Shape” Ahead of Investor Briefing

Just today, the Nikkei reported that Nintendo President, Satoru Iwata has agreed to take a 50% pay cut from February until June.

Nintendo's Iwata Admits

 

Now, NintendoLife reports that Iwata admitted that the “Wii U Isn’t In Good Shape” ahead of Nintendo’s investor briefing.

Iwata made it clear again that he has no plans to step down or instigate major changes in management at this time.

“I’m concentrating my mind on how to rebuild Nintendo rather than how I would take responsibility when things don’t work out in the future.”

“The Wii U isn’t in good shape. That’s the presumption we have as we consider reform.”

As far as Nintendo’s plans to acquire ten million of its own shares, Iwata explained this as a step to compensate for poor sale conditions, and to reward shareholders in any way possible.

“That won’t merit shareholders, that’s why we decided on the buyback. But that’s not all the reason. We’ve been rewarding our shareholders mainly through high dividends, but we cannot generate as much profit as we used to make.”

We’ll let you know more once the Nintendo investor meeting has taken place.

What are your thoughts on the matter?