Nintendo president falls on his financial sword

Nintendo is in trouble. The Japanese company has haemorrhaged money during this first quarter of the new financial year. This has been attributed to disastrous 3DS sales, exacerbated by the cancellation of numerous 3DS games. Nintendo has responded to this by slashing the price of the handheld across the globe.

Lowering the price is not the company’s only response. The people at the top are getting salary cuts, which was initiated by Nintendo president Satoru Iwata. Iwata is giving himself the biggest salary cut as well: “For cuts in fixed salaries, I’m taking a fifty percent cut, other representative directors are taking a 30 percent cut, and other execs are taking a 20 percent cut”.

It’s also worth mentioning that Iwata doesn’t earn as much as you’d think the president of Nintendo would. He earns an equivalent of about US$2 million a year, which just got cut in half. Still, it’s impressive to see somebody in charge taking responsibility; it’s something we practically never see in South Africa. Here, when a municipality or company haemorrhages money, the bigwigs all get bonuses. Perhaps Nintendo Japan should relocate to South Africa?

Source: Kotaku

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