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Old 01-29-2014, 10:40 AM   #1
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Iwata takes a 50% pay cut in wake of poor Wii U sales

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Nintendo has released its nine-month financial results, revealing a continuing decline in both revenue and profit, though software sales are looking up.

In the nine-month period ending December 31, 2013, the company's revenue earnings were ¥499.1 billion ($4.8 billion), down 8.1 percent on the year before. Profit took a harder hit, falling to ¥10.2 billion ($96.7m), which was down 30 percent. A favourable series of exchanges enabled the company to recoup some of this, however, and thus avoid making a loss.

As a result of this, AFP reports Nintendo president Satoru Iwata will take a 50 percent pay cut for the next five months in recognition of the downturn in profit, while other board members will take cuts of between 20 and 30 percent.

The Wii U continues to cause the company serious issues, with just 2.41 million consoles being sold since April of last year. This is down on the 3 million consoles sold in the same period the year before; a worrying fact given high-profile releases like Pikmin 3, The Legend of Zelda: Wind Waker HD and Super Mario 3D World apparently failed to convince people to pick up a Wii U.

"The Wii U hardware still has a negative impact on Nintendo’s profits owing mainly to its markdown in the United States and Europe, and sales of software, which has high profit margins, did not grow sufficiently," the company revealed.

Despite this, there was some good news on the game front. Thanks to lifetime Wii U sales now sitting at 5.86 million, several of this year's releases broke through the million sales mark by the end of December, including Super Mario 3D World, The Legend of Zelda: Wind Waker HD and Wii Party U. Software sales for the period came in at just under 16 million.

The 3DS on the other hand sold 11.65 million units in the period which, while down on the 12.7 million sold in the same timeframe 12 months prior, still easily makes the handheld one of the most popular devices in the market. Its lifetime sales now sit at 42.75 million units worldwide.

3DS game sales hit 57.25 million units for the period, with several stand-out performers. Chief among these was Pokemon X & Y, which sold 11.6 million units across the globe, though Animal Crossing: New Leaf managed 3.5 million, Mario & Luigi: Dream Team hit 2 million, The Legend of Zelda: A Link Between Worlds achieved 2.18 million (in little over a month) and Tomodachi Collection shifted 1.8 million.

Two weeks ago, the company slashed the amount of Wii U and 3DS consoles it expected to sell by the end of the financial year on March 31, 2014 to 2.8 million and 13.5 million respectively. As a result of today's news, Nintendo now needs to sell 400,000 more Wii U consoles and 1.85 million 3DS handhelds to hit this target.
SOURCE - http://www.ign.com/articles/2014/01/...roubles-remain
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Old 01-29-2014, 10:42 AM   #2
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The big wigs of nintendo can be martyrs all they want.

Sale's arn't going to spike because someone took a pay cut to help keep the company afloat.

I swear this is Nintendo's way of making news these days.
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Old 01-29-2014, 10:52 AM   #3
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Jeez. Just last gen they were on top of the world and now this.
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Old 01-29-2014, 01:26 PM   #4
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The Wii and DS were basically seen innovations (or at least I did idk).
I still see many people walking around in Game thinking that the Wii U is just a controller add on for the Wii, so seeing the price they refuse to buy it for their kids, while some of those actually refuse to listen to the kid trying to explain that it's a different console altogether.
The 3DS is also a step up from the DS, but since kids can't really use the 3D and buy one of those like they could with the DS, then they've lost some sales there. I know the 2DS is out, but some parents may just think "well, it's the same as the DS so what's the point in buying that?".
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Old 01-29-2014, 06:45 PM   #5
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I really do think Jemstar has a point. So many people don't really know what the consoles are and what they do. (Outside of the fans and people who research) When I bought the Wii U and showed it to my mom, she literally asked why I spent $400 on a Wii controller. My mom's not even old, far from it actually.

It's disappointing to see Nintendo in this pinch, but I think they can come out. If Iwata thinks taking a 50% deduction will solve anything, then I guess we have to go with his instincts. We still have Smash Bros Wii U to look forward to and the new Zelda game...so maybe 400,000 isn't a far stretch.
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Old 01-29-2014, 06:53 PM   #6
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Quote:
Originally Posted by Gareth View Post
The big wigs of nintendo can be martyrs all they want.

Sale's arn't going to spike because someone took a pay cut to help keep the company afloat.

I swear this is Nintendo's way of making news these days.
They aren't taking a pay cut to save money or get people to buy their stuff.

Iwata, Miyamoto and a bunch of others took pay cuts because they know that they messed up and it's a gesture that they will try to make things right. They did the same exact thing two years ago with the 3DS and look at it now.

It also helps shut up the people who think Iwata should retire.
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Old 01-29-2014, 08:01 PM   #7
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I think they shot themselves in the foot (even further) when they released the Wii Mini knowing the Wii U is severely underperforming.
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Old 01-29-2014, 08:11 PM   #8
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Originally Posted by Pokeman View Post
They aren't taking a pay cut to save money or get people to buy their stuff.

Iwata, Miyamoto and a bunch of others took pay cuts because they know that they messed up and it's a gesture that they will try to make things right. They did the same exact thing two years ago with the 3DS and look at it now.

It also helps shut up the people who think Iwata should retire.
It's useless gesture though?

OH gee thank you Iwata for taking a 50% paycut that probably still equals a lot more then i get anyway.

Thank you for this gesture, i'm now considering buying a Wii U because the staff care.
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Old 01-29-2014, 08:22 PM   #9
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Quote:
Originally Posted by Gareth View Post
It's useless gesture though?

OH gee thank you Iwata for taking a 50% paycut that probably still equals a lot more then i get anyway.

Thank you for this gesture, i'm now considering buying a Wii U because the staff care.
AWW

Actually I think it was also done to avoid a mass layoff, and if that's the case it is worthy of applause because not many CEOs would do that.
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Old 01-29-2014, 08:24 PM   #10
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I saw someone in GAME a few months ago looking at the Wii U titles while pointing and saying "Port, port, port, remake, port..".

There's like, 1 new and original exclusive on the Wii U and that's Super Mario 3D World (Pikmin 3 is cool but it won't get people to buy the console). Yes I enjoy Nintendo Land and Game & Wario but nobody cares about those. Wind Waker is great, and I did buy it.. for the second time.
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