Nintendo president takes drastic pay cut following poor fiscal year

Nintendo president Satoru Iwata has cut his salary in half following an earnings report in which the company saw a loss for its fiscal year, and slashed expectations for its Wii U console by over 60 percent.

Iwata will take the price cut for five months, and other board members will see their salaries reduced by up to 30 percent.

The company is prepared to a hold a conference tomorrow in which it will outline new business strategies that could include some content for mobile devices. Iwata says "how to utilise smart devices is the theme of our management policy conference (Thursday)".

Nintendo has been hit hard by terrible sales of the Wii U, which has been hurt by a limited game selection and now has brand new rivals in the Sony PS4 and Microsoft Xbox One.

The gaming company had expectations of 9 million Wii U unit sales for the fiscal year but just dropped that forecast to a lackluster 2.8 million. Sony and Microsoft have sold over 4 million consoles each in the last two months.

Written by: Andre Yoskowitz @ 29 Jan 2014 21:19

Jemborg

If only more would follow this example.

Its a lot easier being righteous than right.

30.1.2014 02:23 #1

aldan

half of what?lol

30.1.2014 12:03 #2

Interestx

Funny world, here in the Euro/US western business world failure of senior exec.s is usually rewarded with a huge pay-off & pension - this on top of a salary & bonus scheme which means neither they or their families ever had to face any 'risk' in failure anyway.

This ludicrously excessive top exec pay is merely robbing companies of funds that should be going into R&D as well as company infrastructure and the 'lesser workers' salaries...and, for that matter shareholders too.

30.1.2014 15:37 #3

TrinUK

Should have added the Blu Ray and better Graphics to the Wii U. Such a shame, the boot time on Lego city is real bad. I feel this console will end up like the Dreamcast for sure.

Trin - Making Digital Waves

31.1.2014 10:39 #4

ronatola

I'm still waiting to get one. Usually I'm an early adopter, but I couldn't talk myself into this one.
Maybe the new Mariokart will tempt me.

31.1.2014 13:21 #5

omegaman7

Sorry Nintendo. I like the Wii for obvious capabilities, but my PC comes first :p Perhaps you could develop games for the PC?

To delete, or not to delete. THAT is the question!

2.2.2014 01:12 #6

Menion

Originally posted by ronatola: I'm still waiting to get one. Usually I'm an early adopter, but I couldn't talk myself into this one.
Maybe the new Mariokart will tempt me. I just got mine finally and love the console! I waited so long because of my disappointment in lack of library, but after reviewing 2014's lineup on ign I was finally convinced, I could care less for blu-ray (I have a player for that) or "top graphics" I'm grew up with a 2600 & NES and know graphics don't make good games.

2.2.2014 07:38 #7

xboxdvl2

nintendo needs to branch out more and come up with new ideas,mario kart and mario games in general are old, we want new characters,new series not rehashed mario games.

Maybe thats just my opinion ^^^ ,i dont like the over colourful kids games either.

custom built gaming pc from early 2010,ps2 with 15 games all original,ps3 500gbs with 5 games all original,yamaha amp and 5.1channel surround sound speakers,46inch sony lcd smart tv.

2.2.2014 08:26 #8

KillerBug

Nintendo did really well with the Wii because it was cheap...the the WiiU console may be cheap but the controller included with it makes it more expensive than a PS3...that would be fine if it were "next gen" but it simply isn't, no matter what the nintendo fan boys claim.

The three major categories of Wii buyers were all alienated...the parents buying the cheapest console for little kids went PS3 (or just got an original Wii), the people who got the Wii for the motion controls were scared off by a controller more complicated (and uncomfortable) than the PS3 or 360 with none of the "old folks home" or "fitness" factor, and the people who bought it because of "The Big Bang Theory" couldn't find the crossbow accessory.

2.2.2014 08:56 #9

Jemborg

Originally posted by KillerBug: ...with none of the "old folks home" or "fitness" factor... Heheh

Originally posted by Menion: I just got mine finally and love the console! I waited so long because of my disappointment in lack of library, but after reviewing 2014's lineup on ign I was finally convinced, I could care less for blu-ray (I have a player for that) or "top graphics" I'm grew up with a 2600 & NES and know graphics don't make good games. Well... at least you're happy.

:)

---------------------------------------------------------------

Its a lot easier being righteous than right.

2.2.2014 10:57 #10

TrinUK

Originally posted by KillerBug: Nintendo did really well with the Wii because it was cheap...the the WiiU console may be cheap but the controller included with it makes it more expensive than a PS3...that would be fine if it were "next gen" but it simply isn't, no matter what the nintendo fan boys claim.

The three major categories of Wii buyers were all alienated...the parents buying the cheapest console for little kids went PS3 (or just got an original Wii), the people who got the Wii for the motion controls were scared off by a controller more complicated (and uncomfortable) than the PS3 or 360 with none of the "old folks home" or "fitness" factor, and the people who bought it because of "The Big Bang Theory" couldn't find the crossbow accessory. Well said.

Trin - Making Digital Waves

3.2.2014 05:57 #11

TrinUK

Originally posted by Menion: Originally posted by ronatola: I'm still waiting to get one. Usually I'm an early adopter, but I couldn't talk myself into this one.
Maybe the new Mariokart will tempt me. I just got mine finally and love the console! I waited so long because of my disappointment in lack of library, but after reviewing 2014's lineup on ign I was finally convinced, I could care less for blu-ray (I have a player for that) or "top graphics" I'm grew up with a 2600 & NES and know graphics don't make good games. The Blu-ray comment was not for playing movies but to improve boot time and increase storage capacity as the current drive is very limited, exactly what Sega did with their GD Rom drive in the Dreamcast. However... in regards to playing movies? It would have also added a movie streaming feature to the controller (if people wished to use it). If it was built right and had a Linux install option? it could of allowed people to use the pad as a graphics tablet and more.

Trin - Making Digital Waves

3.2.2014 06:10 #12

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