CBRonline have revealed that after Nintendo’s recently poor financial results for the last 9 months, many of it’s executives have acted to take temporary and in some cases substantial pay cuts while they work toward improving the fortunes of the business. Ninentdo’s financial result’s have fallen by a hefty £60million between April and December 2013. In yen that’s a drop from 14.55bn to 10.2bn, not great results.
Nintendo President and CEO, Satoru Iwata will be taking a pay cut of 50% whilst the wider full board of directors will be taking reductions in the region of 20%. Shigeru Miyamato the world acclaimed gaming director and brilliant mind behind core Nintendo staples Mario and Zelda amongst many others will also be taking a 30% pay reduction as will Nintendo general manager Genyo Takeda.
Whilst these cuts are only temporary and Nintendo intends to reverse these by June, this all depends on how successful the business can become over the next 5 months. Nintendo needs some fresh thinking and rumour has it a new business strategy is soon to be revealed.
How do you feel about Nintendo’s continuing financial struggles? Whilst I don’t feel like Nintendo will disappear any time soon, i’m concerned that they’re on a slippery slope. Making bad business decision now could force them out of the industry and those that will sorely lose out will be those of us who revel in the joys of Nintendo’s brilliant games.
Ben Corbett-Mills / @benleopards
