Iwata Shoulders Blame for Low 3DS Sales, Cuts Salary in Half

"Very, very sorry"

As the 3DS only shifted 710,000 units worldwide between 1st April and 30th June, Nintendo president Satoru Iwata is feeling the hit in his own pocket, cutting his own salary in half.

Iwata isn't the only high level Nintendo executive taking a hit: Shigeru Miyamoto's salary will drop by around 30%, as will fellow that of managing director Shinji Hatano.

Specific details were not forthcoming but it appears executives will forego performance-related bonuses as well as taking home reduced salaries.

Feeling the hit most of all, however, is majority Nintendo shareholder Hiroshi Yamauchi. The drop in share price after the price announcement caused the multi-billionaire to lose around $500m in one day. Ouch.

[via joystiq.com]