In an attempt to appease shareholders after dismal sales figures and subsequent sales predictions of the Wii U, Nintendo CEO Satoru Iwata has taken a huge pay decrease and offered to buy back shares. Meanwhile, Nintendo may have a new plan to try and regain some traction in the gaming market.
During a press conference on Thursday, Iwata announced that he will receive just 50% of his usual salary over the next 5 months, with other board members taking a pay cut of between 20-30%. He also announced that in order to appease its understandably dismayed shareholders, Nintendo will be buying back nearly 8 percent of its outstanding shares.
At that same conference we were given a glimpse at Nintendo’s future plans, albeit a vague one. It seems that Nintendo is heavily considering licensing its trademark characters for the use of smartphone games, and may already be looking for a business partner. Though very much contradicting previous statements by the Nintendo CEO, the use of Nintendo characters in mobile games could help their financial standing.
Despite these announcements however, Nintendo stocks dropped nearly 3 percent on Thursday.