When Nintendo had a fall in revenue in 2014, from the less successful Wii U its CEO, Satoru Iwata cut his own pay in half for 5 months rather than blaming the workers.
Other members of the board also took a pay cut of between 20 and 30 per cent.
Analysts have criticised the system’s limited game selection, as rivals Sony and Microsoft enjoy robust demand for their new PlayStation 4 and Xbox One consoles.
“Nintendo’s worse-than-expected performance is mainly due to a slump in the Wii U,” said Hideki Yasuda, a games analyst at Ace Securities in Tokyo.
“They haven’t released attractive games titles which slammed the brakes on console sales. Also, its rivals have seen strong demand for their consoles which is taking market share away from Nintendo.”
Even though this was a bold move. In retrospect, this is a classic Japanese CEO move. Many heads of Japanese corporations slash pays from the top instead of from the bottom. Sony of Japan did the same as well. This is how companies should handle losses, more often than not they cut the jobs of people who put so much work into the company. All while not taking a single dollar from the highest earning individuals. Nintendo is lucky enough to have always had very honorable high-ranking employees who not only care about the well being of the brand but also their community’s growth and responses. This is just another instance of the now deceased Iwata-san proving just how selfless and compassionate he was.
This is Satoru Iwata we’re talking about, the most passionate, selfless CEO that existed. His famous quote was :
“On my business card, I am a corporate president. In my mind, I am a game developer. In my heart, I am a gamer”.
This man lived for Nintendo, he helped the team working on the original Pokemon games by programming the version that would go out to America. He had passion for the game and respect for his workers. The very sad part is that he passed away with the regret of having disappointed Nintendo fans following a poor E3 in 2015. He’s a huge inspiration and was deeply loved by all of Nintendo both employees and fans. Unfortunately, he died in July, 2014 due to complications from a tumor in his bile duct.