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A disastrous last quarter in terms of sales has sent Nintendo's share prices through the floor. If you own Nintendo shares, sorry! But hey, even if you do, it could be worse; spare a thought for former president Hiroshi Yamauchi. He just lost $500,000,000 in one day.
It's not like he'll be out on the street; Yamauchi, who used to be Japan's richest man, is so rich he can take a $500 million hit (caused by a drop in over 20% of Nintendo's share value) in his overall wealth and still rise to greet the day.
But boy, losing $500,000,000 in a single day has gotta hurt. I lost $2 down the side of my driver's seat last week and went through half a box of tissues!
Yamauchi ran Nintendo for over 50 years, and also used to own the Seattle Mariners baseball team.
I NASTAVAK PRIČE:
Nintendo President Takes Blame for 3DS, Getting 50 Percent Pay Cut
Today in Tokyo, Nintendo president Satoru Iwata addressed shareholders regarding the Nintendo 3DS. For Nintendo, things have been better.
At Today's meeting, Iwata said the goal was to address questions why Nintendo cut the 3DS's price. In an official release from Nintendo detailing the meeting, Iwata acknowledged that the price reduction does help retailers plan for the end-of-year sales period as well as keep game developers on board with the 3DS. Iwata repeatedly stressed the importance of games.
The 3DS has been subject to numerous game cancelations.
Iwata said he is taking responsibility for the 3DS, which translates into a cut in his paycheck. "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," said Iwata.
