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Nintendo financials: Iwata will not resign, president denies management reform

Friday, 17th January 2014 10:24 GMT By Dave Cook

Nintendo president Satoru Iwata has played down rumours that the company will shake-up its management, following its latest financial report.

Today, we reported that Nintendo will fail to meet its financial forecast by a wide margin. Hit the link for our full report.

Now, Yahoo News states that following the release of Nintendo’s figures, Iwata told reporters, “There will be no major management shake-up in the short term.”

NeoGAF has also translated Nikkei’s report on Nintendo’s following press conference.

It was reported that Iwata admitted that he feels responsible for Nintendo’s poor performance, and that he apologised to shareholders. He is now looking to turn around Nintendo’s operations as soon as possible, and made clear that he will not resign in order to see his aim through.

What’s your take on Nintendo’s current position?

Via Eurogamer.

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27 Comments

  1. Joe Musashi

    Trust me guys. I’ve got this.

    JM

    #1 8 months ago
  2. dreamcastnews

    -face palm- wake up, Nintendo!

    #2 8 months ago
  3. Fin

    I thought he said he would if he couldn’t turn it around in a year?

    #3 8 months ago
  4. salarta

    Report: old company set in its ways refuses to change, will continue to lose money. More at its bankruptcy.

    #4 8 months ago
  5. colinpickup

    Some friends and I had a discussion on this topic recently. If the valuation of Nintendo drops significantly, couldn’t someone buy Nintendo? Apple have a notoriously full piggy bank and it’s been speculated for years that they might enter the console market…

    #5 8 months ago
  6. Clupula

    Iwata certainly can’t feel too responsible, since he’s not manning up and resigning so that maybe someone who actually can steer the ship can be in charge.

    You know, it just occurred to me that maybe that’s on purpose. Maybe Iwata is so incredibly stuck in the old, outdated Nintendo philosophy that their senile old former CEO had that maybe he’d rather see Nintendo fall to shit than to fix it in a way that moves away from his dusty ways. Maybe he’d rather steer the ship into the rocks than to believe that the world is round.

    Either way, it is obvious the man has no idea what he’s doing and it might be time for the shareholders to force him out.

    #6 8 months ago
  7. wicktus

    - we’re failing but that’s ookay :) No changes, no need to UNcasualize our games since a lot of core gamers in US/EU LOVE that; My god when old CEO (hey ballmer) think that they have a trendy and “”modern”" point of view on the market, in general the result is more than catastrophic

    #7 8 months ago
  8. SolidGamerSnake

    @5

    thats the way it normally goes in the west. But its a different story for japanese companies. They usually resist any external interventions by having ( e.g.) a large family share in the company. And this is the case for Nintendo aswell

    #8 8 months ago
  9. fihar

    Knee-jerk reactions and witch hunts aren’t always the best exit strategy.
    At least Iwata now realizes what was wrong in the first place.

    #9 8 months ago
  10. xxxGamesMasterxxx

    Why is Iwata getting the blame? The whole company needs to be reformed. Otherwise they will die and become a company like Sega.

    #10 8 months ago
  11. Dragon

    “I will continue to bleed the company’s and its shareholders money, take a huge salary, and yet not resign at failure.”

    Yup, ninty stocks will be interesting to watch. I didn’t know the management their was so selfish.

    Also read, Iwata accepts responsibility, but wont resign?

    What the hell does accepting responsibility mean then?

    #11 8 months ago
  12. colinpickup

    @8

    Maybe, but look at what happened to Sega. They were bought by…. Nintendo.

    I suppose they could decide to only sell to another Japanese company. In that case I suppose I could see Sony slapping down some hard cash for it.

    #12 8 months ago
  13. Joe Musashi

    Sega were bought by Nintendo?

    I must’ve missed that memo.

    JM

    #13 8 months ago
  14. dreamcastnews

    Although Nintendo are certainly in hot water currently, I don’t see them in ‘buyout’ territory at the moment.

    #14 8 months ago
  15. Clupula

    @12 – Wait, what? Did I wake up in an alternate universe again?

    #15 8 months ago
  16. The_Red

    Regardless of ones opinion about Iwata, I think it’s safe to say that if this was ANY company other than Nintendo, he would have been fired at least a year ago. Seriously, what sort of business environment tolerates this sort of performance without changing CEO?

    #16 8 months ago
  17. Fin

    I assume he meant Nintendo started publishing Sega games.

    #17 8 months ago
  18. Legendaryboss

    @12
    Come back to reality, SEGA was never bought by Ninty they just published/collaborated on some games.

    #18 8 months ago
  19. dreamcastnews

    @18 it’s a shame, Nintendo could have done with Sega’s IP right about now.

    #19 8 months ago
  20. absolutezero

    and it would have ended up with better games than what Sega has been producing recently.

    and the possibility of Yakuza get localised would have increased.

    #20 8 months ago
  21. dreamcastnews

    @20, YES! And Valkria Chronicles treated as it should be, and Rez and Space Channel 5 and Crazy Taxi and Sonic and Shenmue…. The list goes on!!!

    #21 8 months ago
  22. ManuOtaku

    I will ask this, what nitendo do in the eyes of the gamers that dont like nintendo, like some commenters in this very thread, for them to adopt nintendo consoles and games.

    Lets say, Nintendo makes a service like xbox live or PSN, they release a powerfull machine, and they create new IPS, some of this gamers would buy nintendo consoles?, well i dont think so, and i believe most gamers appreciate diversity in the different offerings of the console manufacturers, i mean having three offering the same things?, i dont know why this approach would help nintendo?, the gamecube indicates that a powerfull machine, with new IPs didnt help them.

    I dont think Iwata did that Bad, the DS, Wii and 3DS, were under his belt, and if wasnt for those systems, nintendo wouldnt be existing at this point, i will not meassure his performance for just one console, one that can do decent numbers, or dont, but at this moment anything is possible, it is not done thing.

    #22 8 months ago
  23. Moonwalker1982

    Really really bad news this. I really want to see a reform badly. Nintendo doesn’t get certain things anymore.

    #23 8 months ago
  24. dreamcastnews

    @22, I’ve got to agree, I can’t see MS and Sony gamers becoming Nintendo faithfuls if Ninty created a machine like the competition, and yeah GameCube is the poster child for that.

    #24 8 months ago
  25. Ireland Michael

    Hello desk.

    This is my head.

    *smash*

    #25 8 months ago
  26. ManuOtaku

    @Dreamcasstnews, i do also believe that, and lets say is true, i mean that Sony and microsoft dedicated gamers would never become nintendo followers, i will further ask then, what Iwata or the next nintendo leader could do to get back those gamers, if that doesnt work, i think there is not to much they can do, even if they become third party like SEGA those gamers will not pick their games on other consoles either.

    Therefore the other possible thing, is to keep doing the things they are doing, i think they know this, and is one of the reasons why they are so stubborn to change, they learned this from the gamecube era.

    #26 8 months ago
  27. MrSec84

    Nintendo on the whole has made some bad decisions regarding the Wii U.
    I’m not sure you can really blame Iwata for everything, I don’t think he was the lead architect who came up with the idea of what tech Wii U would have.
    I don’t think Iwata worked on Wii U’s development tools, which seem to have delayed game releases or annoyed 3rd party developers to the point of them jumping ship.

    I think with regards to Wii U’s sales, they’ll pick up considerably when Mario Kart & Super Smash Bros come out.
    Basically when more content comes out that people can’t get elsewhere, then Nintendo will have something to sell, it just isn’t ready yet.

    Nintendo will definitely need to hit up the marketing to push that fact when those games start to come, they’d be stupid not too, because it’s what works.

    I think Mario 3D land helped push more consoles, so it’s kind of proof the situation’s getting better.

    Hopefully next time Nintendo releases a home console they’ll take a more Sony style approach, think about what developers want from a system, rather than try to innovate for the sake of innovation.

    Seriously innovating when there’s a real need for it & it provides something that obviously adds to the experience of gaming like Wii did is great.
    I’m sure Nintendo felt like they’d stumbled on something special again with bringing an extra screen to the controller, it certainly seems like a good idea to take HUD, maps & inventory off of the main screen to remove the clutter or for off TV gaming, that’s definitely good for convenience when kids have their console in the main room of the house.

    On the face of it Wii U’s a good product, it’s not perfect, needs better online & should have been a bit more capable on the hardware front, but for a Nintendo machine, that plays their games, with their kinds of art styles, running in HD, it’s definitely got potential that hasn’t been taken advantage of yet.

    IMO Iwata needs to push for the content to get released, build more studios, 2nd party deals, maybe buy some Indie companies up to plug the gaps that they continuously have in software & get on the marketing.

    Iwata needs to light a fire up under the company, they’re running in slow motion at the moment & have missed their opportunity as far as having the lead in getting their machine out a year before the competition.

    #27 8 months ago

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