Nintendo not targeting children enough - Iwata

Nintendo boss Satoru Iwata believes some of the company's recent difficulties stem from not creating enough content for children.

The CEO was quoted in a Japanese newspaper report translated by Cubed3.

Iwata reportedly said that Nintendo hasn't been "targeting children enough" with the Wii U. Unlike the 3DS, which is selling well among children and adults alike thanks to a diverse range of software, Iwata said the Wii U's advertising and focus had strayed too far from the kids demographic.

Nintendo isn't ready to talk about how it plans to turn its fortunes around, but Iwata said he's thinking up various strategies, and promised to reveal the company's new focus at a press briefing on January 30.

The news follows Iwata's acceptance of a 50% pay cut - for the second time in a couple of years - over Nintendo's recent performance.

In its latest financial report, Nintendo admitted that the Wii U is under-performing. Although investors have called for Iwata to step down, the company's stock has risen over the last few days.