Close
Are you sure? Are you sure you want to report this comment? I understand, report it. Cancel

Nintendo re-elects Satoru Iwata as president

Nintendo re-elects Satoru Iwata as president

Fri 27 Jun 2014 10:43am GMT / 6:43am EDT / 3:43am PDT
Publishing

As Mario Kart 8 hits 2 million sales

Nintendo has re-elected Satoru Iwata as president at its Annual Shareholders Meeting in Japan.

The news came from IGN and shows the company still has confidence in Iwata, despite a declining confidence rating and recent health concerns. Iwata did not attend this AGM this year or E3 for medical reasons.

"I have no choice but to miss the company's very important activity, the Annual General Meeting of Shareholders, to be held this month. As the president of the company, I regret that I cannot attend the meeting," he said ahead of his absence.

"However, I understand that I have to prioritise my medical treatment and to recover as soon as possible so that I will again be able to do my best to help the company to grow. I hope that you understand."

The AGM also revealed the news that Mario Kart 8 is celebrating a worldwide sell-through of two million units, not bad considering the game was only released for Wii U on May 29.

10 Comments

Steve Wetz
Reviewer/Assistant Editor

213 529 2.5
Popular Comment
Satoru Iwata shown here bribing board member the Honorable D. Kong for his vote.

Posted:3 months ago

#1

Jim Webb
Executive Editor/Community Director

2,266 2,405 1.1
Steve, it apparently worked too.

2 million. Isn't that what Polygon said the game would sell after its first year on the market?

Posted:3 months ago

#2

Sasha Yelesin
Student

54 34 0.6
I like Iwata because he doesn't act like a businessman. It's that approach that pushed me towards a Wii U even though I've never been a "Nintendo guy." Sony and Microsoft and EA and Ubisoft, etc., only seem to care about money, and Nintendo is a business too, but they don't remind me every time they open their mouths. I'm happy to see that won't change for the time being.

Posted:3 months ago

#3

Nick Wofford
Hobbyist

180 190 1.1
Sasha, I'd certainly agree that Nintendo doesn't seem to care about money.

This is a bad decision in my opinion. Iwata's done nothing but lose money for years, and his "please understand" lectures are getting old.

Posted:3 months ago

#4

Christian Keichel
Journalist

682 925 1.4
Popular Comment
This is a bad decision in my opinion. Iwata's done nothing but lose money for years, and his "please understand" lectures are getting old.
During the fiscal years 2012-2014 Nintendo reported an accumulated operating income loss of aproximately 1.2 billion US$, that's around 60% of the profits, the company made in fiscal year 2010,
In the fiscal years 2004-2011 Nintendo reported accumulated profits of 21 billion US$. Iwata has definitely done more for the company then to "lose money for years" and I guess the share holders are aware of this fact, even if western commentators tend to forget it really quick.

Source:
http://www.gurufocus.com/financials/NTDOY

Edited 1 times. Last edit by Christian Keichel on 27th June 2014 11:23pm

Posted:3 months ago

#5

John McCaul
Web Developer

16 20 1.3
Nick, he brought the DS and Wii to market both are Nintendo top selling systems and industry top selling systems and he has turned around the fortunes of the 3DS. Let's not forget that he has kept Nintendo as one of the largest software publishers in the handheld and console games industry.

Posted:3 months ago

#6

Rogier Voet
Editor / Content Manager

71 31 0.4
A shame because Nintendo keeps sleeping and still has not awakened. Yes Mario Kart is incredible (it will not save the Wii U).

Posted:3 months ago

#7

Paul Jace
Merchandiser

927 1,383 1.5
If they had voted him out I'm wondering who they would have elected in his place. Something tells me Miyamoto wouldn't want the job despite being an obvious favorite.

Posted:3 months ago

#8

Nick Wofford
Hobbyist

180 190 1.1
Christian and John, to quote Frozen: "The past is in the past."

What matters is his recent performance. Michael Jordan was a great player for the Bulls, but that doesn't make up for his record with the Wizards (or excuse the Wizards for keeping him after said performance). Iwata nailed the market years ago, but he's proven that he can't see past that market. As far as I can tell, he doesn't even know why the Wii U is selling poorly.

He did his good work for Nintendo, but he's only going to tarnish that record by staying. Like I said, the "please understand" message is falling on deaf ears.

Posted:3 months ago

#9

Christian Keichel
Journalist

682 925 1.4
Popular Comment
Christian and John, to quote Frozen: "The past is in the past."

What matters is his recent performance.
Nick, share holder meetings are not about the recent performance, they are about the expections for the future and it seems share holders are expecting Iwata to make the company profitable again (QoL, Fusion, etc.). I don't think, that comparsion with sportlers are fitting, I am aware of many successful leaders of companies who are 60, 70, 80 or even 90 years old, I am not aware of successful sportlers over the age of 40.
The video game industry has long product cycles, development for hardware and software takes years. To judge the course of the president of the biggest video game manufacturer by the success of 1 product is absurd, even more by ignoring that the same president is responsible at the same time for the constant success of Nintendo in the handheld space.
Like I said, the "please understand" message is falling on deaf ears.
Obviously not, otherwise he wouldn't have been re-elected.

Posted:3 months ago

#10

Login or register to post

Take part in the GamesIndustry community

Register now