iwata staring

Nintendo president Satoru Iwata says he will reduce his pay by 50%, and board directors Shigeru Miyamoto and Genyo Takeda will each receive a 30% pay reduction as well. The rest of the remaining directors will receive a 20% reduction. The company had recently slashed their Wii U sales forecast from 9 million to just 2.8 million, and Iwata announced that the company would be back in the red by the end of March.  The company says they have earned 10.20 billion yen ($98.8 million) in the nine months to December.  They have also reported a 1.58 billion yen operating loss with revenue falling 8.1 percent. Shares have fallen 12 percent ever since the company announced a fiscal loss for the year.

Source: AFP

Advertisements