Nintendo’s Iwata Ignores Calls to Resign

NintendoLife has reported that according to a Nikkei report, the following message has been stated by Nintendo president, Satoru Iwata:

Iwata was quoted at the press conference today saying that he feels responsibility for the poor business performance at Nintendo, and he is sorry to all shareholders. He says the most important thing is to reinvigorate Nintendo’s business as quickly as possible. He will not resign, but stay in office to carry that through.

Nintendo's Iwata Ignores Calls to Resign

Nintendo’s latest financial report reveals that it expects to sell less Wii U and 3DS consoles by the end of the financial year. Wii U’s estimated sales are down from 9 million to 2.8 million, and the 3DS is down from 18 million to 13.5 million. As a result, Nintendo expects to make a loss this year.
Despite the bad news, Iwata has stated that,

“There will be no major management shake-up in the short term”.

What are your thoughts? Should Iwata resign or is he the best person to try to bring Nintendo financial results back up?