Nintendo Financial Woes: Iwata Won't Step Down

No management reshuffle planned

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Nintendo Financial Woes: Iwata Won't Step Down
Despite rumours to the contrary, Nintendo president Satoru Iwata has said he will retain his position following his company's drastic revisions of its sales forecasts.

Iwata reportedly apologised to shareholders at a briefing in Osaka, but said he wouldn't resign. He did say that he feels responsible for the company's poor performance, however, and said that his top priority is to reinvigorate Nintendo's business as soon as possible.

Furthermore, he said that "There will be no major management shake-up in the short term."

Nintendo has cut its Wii U sales forecast for this year by nearly 70%, with similar cuts across the board on its 3DS and software sales. The company's projected financials have taken a serious hit as a result.

Via VG247
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