Satoru Iwata Admits The "Wii U Isn't In Good Shape" Ahead of Investor Briefing
Posted by Thomas Whitehead
"I’m concentrating my mind on how to rebuild Nintendo"
Nintendo's investor briefing, thanks to the extensive gaps in time zones, is taking place rather soon. The unveiling of today's financial reports did involve a short press conference with Satoru Iwata, and Bloomberg has picked up some choice comments.
After confirming a pay cut that will run from February to June, Iwata-san made clear, once again, that he has no plans to step down or instigate major changes in management at this time.
I’m concentrating my mind on how to rebuild Nintendo rather than how I would take responsibility when things don’t work out in the future.
The Wii U isn’t in good shape. That’s the presumption we have as we consider reform.
Strategies for "using smart devices" will be outlined, as also confirmed previously, but Nintendo has already made clear that it has no plans for mini-games on smartphones and tablets.
With regards to plans to acquire ten million of its own shares, Satoru Iwata explained this as a step to compensate for poor sale conditions, and to reward shareholders in any way possible.
That won’t merit shareholders, that’s why we decided on the buyback. But that’s not all the reason. We’ve been rewarding our shareholders mainly through high dividends, but we cannot generate as much profit as we used to make.
Bloomberg also states that Satoru Iwata has said further price cuts are unlikely to stimulate Wii U demand, but this isn't quoted directly.
It's difficult to tell, at this stage, whether the investor briefing will contain many high-profile announcements on the company's strategy. Based on these quotes, a straight Wii U price drop seems to be off the table.
Let us know your thoughts on these comments below.