Iwata says he won’t resign, apologizes to shareholders

Satoru Iwata, President of Nintendo Co., Ltd., poses after Nintendo's E3 presentation of their new Nintendo 3DS at the E3 Media & Business Summit in Los Angeles

Nintendo president Satoru Iwata has revealed at a shareholder meeting today that he won’t resign after the company slashed Wii U and 3DS forecasts drastically.

He has mentioned that he feels responsible for the poor business performance of the company and has apologized to shareholders.

His ultimate goal is to reinvigorate Nintendo’s business and he believes he needs to be there to see it through. Earlier he also explained why they slashed the hardware forecasts.

Nintendo is going through tough times but they have enough cash to pull it through. Iwata has proven himself before and there may not be someone better than him to handle the current situation. One thing is for sure though, the company needs to change its mentality and be more accommodative to current trends.

Tell us what you think in the comments section below.

Via Nikkei

  • PatcherStation

    What about apologies to Wii U owners? If Nintendo releases a new console early, will Wii U owners get compo? Releasing a new console early is just going to fuel the fire. Not many gamers are going to touch a Nintendo (home) console now. SEGA springs to mind.