Satoru Iwata says he won’t step down in wake of Nintendo’s third annual loss
Despite today’s adjusted sales forecasts and loss projections, Nintendo president Satoru Iwata says he won’t be stepping down. Today, during a press conference in Osaska, the executive apologized to investors for a third consecutive annual loss, but reassured them there would not be any immediate changes in Nintendo’s management.
Iwata also said that he feels responsible for the company’s current position and it is critical that its business rebounds as soon as possible. Earlier today, Nintendo announced that it had reduced Wii U sales projections from 9 million to 2.8 million units by the end of March. The 3DS also saw similar cuts, with the company adjusting the popular handheld’s sales projections from 18 million to 13.5 million units.