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Nintendo boss takes massive pay cut

Alas, poor profitability. I knew it well.

You have to love the Japanese and their humility. When they feel responsible for something, they’ll own up to it and suffer the consequences as a result. That’s exactly what’s happening over at Nintendo, which has seen its third straight annual loss in a row.

Following some pretty miserable financial results, Nintendo president Satoru Iwata has said he will take a 50% cut to his salary. For at least the next five months, Iwata will take home half as much money as usual, and other prominent executive staff will see pay reductions as well. Shigeru Miyamoto and Genyo Takeda, will take a 30% pay cut, while other board members will take a 20% pay cut.

This continues Nintendo’s corporate philosophy of not firing staff just to keep shareholders happy, which is both idealistic, and incredibly respect-worthy. Iwata did the same back in 2011 when the 3DS was selling poorly as well.

Most companies would rather get rid of the collective experience of its meat-bag staff before its executives would even consider taking less money. THQ, commendably did a similar thing, though it also shed 240 staff at the time, and ended up collapsing on itself.

The same won’t happen to Nintendo; even though it’s making a loss at the moment, it has enough reserve in the coffers to keep going for some time yet.  Even so, Nintendo will be holding a big corporate meeting tomorrow to outline and plan its new business strategy. We may hear of an official Wii U price cut this week, in the hopes that the system could do a turn-around like the 3DS did.

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Author:Geoffrey Tim

I'm old, grumpy and more than just a little cynical. One day, I found myself in possession of a NES, and a copy of Super Mario Bros 3. It was that game that made me realise that games were more than just toys to idly while away time - they were capable of being masterpieces. I'm here now, looking for more of those masterpieces.

  • General JJ PanGirl

    I really hope, for Nintendo’s sake, that the WiiU makes a comeback. They’re a great company.

    • RinceThis2014

      Do you think they will?

      • General JJ PanGirl

        I think they might actually. They just need more and better titles for the WiiU and I’m sure a price cut, even if small, could make a big difference. With PS4 and Xbone out now though, it’s definitely going to be tough.

        • RinceThis2014

          Yeah, those who may have bought one are eyeing the new kids on the block…

        • TiMsTeR1033

          They need a big price cut, I mean a flipping wii u is like R3600 at look and listen still. Make it R2000 or even R2500 then sales will start to move. Still crazy now how even Xbox 360 and Ps3 prices haven’t come down yet and with the rand falling not helping matters I guess.

          • General JJ PanGirl

            Yea. The Rand value is screwing everything up now.

          • TiMsTeR1033

            Esp your precious pc parts!

          • General JJ PanGirl

            I’m not due for an upgrade for at least another year or two. Upgraded end 2012. Might only need to change the graphics card, but it’s not a must.

          • Rags

            Price of memory has more than doubled since last year. :(

      • TiMsTeR1033

        A part of me really thinks if Nintendo doesn’t do something fast they will have to turn into Nokia and start laying off people and who knows maybe even sell assets.

    • HvR

      Well the DS is the biggest selling gaming platform in history and they are still sitting on big cash reserves from the Wii.

      So they are not in trouble yet and can afford a Wii U flop.

      If however the next console is a Cube/U lemon they will have reason to panic.

    • Wyzak

      It’s also a great console.

  • DrKiller

    Bring Pokemon, Mario and Zelda to Xbox.. You’ll have more than enough money then.

    • TiMsTeR1033

      they truly would!

  • HvR

    See Jim is moving up in the world, yesterday reviewer for LG today rubbing shoulders with Nintendo big wigs.

  • MakeItLegal

    Mmm out of all the next gen consoles , I actually wouldn’t mind a wii u simply for fun party games , and to keep all the little ones happy …. If pc had some rad party games … Mmm

    Back to hearthstone for me loving it

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