http://www.bloomberg...ii-u-flops.html
Nintendo Co. (7974) will spend as much as 125 billion yen ($1.2 billion) buying back shares after Christmas shoppers shunned its Wii U console and games featuring Mario and Zelda.
The world’s largest maker of video-game machines will buy back as many as 10 million shares, or about 7.8 percent of outstanding shares, the Kyoto, Japan-based company said in a statement today. Nintendo had about $8.6 billion of cash and equivalents and zero debt as of Sept. 30.
Salary Cut
Iwata will cut his pay from February to June, and other company directors will take pay cuts of as much as 30 percent. The president has said he won’t step down after 12 years running the company, and he has no plans to change managers in the near term.
“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,” Iwata said today.
The 54-year-old will discuss his strategy for “using smart devices” to jumpstart a turnaround during a press conference in Tokyo tomorrow. He didn’t elaborate. Nintendo is studying new ways to revive sales after previously ruling out licensing its franchise characters for online games or smartphone applications, Iwata said earlier this month.
“The Wii U isn’t in good shape,” Iwata said today. “That’s the presumption we have as we consider reform.”
Modificata da TangorFopper, 29 January 2014 - 07:22 PM.