Nintendo Chiefs Take Pay Cuts After Release Of Third Quarter Results

Nintendo last night published their third quarter financial results for the year, and once again it makes for somewhat grim reading for the company. The company already had to reduce their performance forecasts a few weeks ago, and now with these new figures Nintendo top brass are taking action to rectify things.

This is taking the shape of such Nintendo figureheads as Nintendo President Satoru Iwata (he of Nintendo Direct fame), and even Mario creator Shigeru Miyamoto, taking pay cuts. Iwata will be docking his own pay by fifty percent, whereas Miyamoto will see his shrunk by thirty percent. Other board members at the company are also foregoing twenty percent of their respective salaries.

The figures that were released last night do show some encouraging signs however, with games such as Super Mario 3D World, Wii Party U and Zelda: The Wind Waker HD all passing the one million unit mark, and 3DS titles like Pokemon X & Y and Animal Crossing all selling huge numbers – as you would expect. Nintendo are working hard to turn around their console business though, which fell short of predicted sales for both Wii U and 3DS.

This isn’t quite the panic stations situation that many critics are talking about, as Nintendo still have a lot of money in the bank – but the company will want to turn all of its efforts into profits pretty soon.