SatoruIwata3DS 30 Jan

Following Nintendo’s poor financial results for the last quarter, CEO Satoru Iwata has said he will take a 50 percent pay cut, AFP reports.

In Nintendo’s financial report for the nine months ended December 31st, 2013, net sales had fallen eight percent. For the same period last year, the company’s net sales were at ¥543 billion and this year fell to ¥499 billion. Nintendo’s net income dropped 30 percent from ¥14.5 billion to ¥10.1 billion.

This result was partly due to the Wii U struggling to shift units, the company dropped its sales forecasts from 9 million to 2.8 million.

As well as Iwata, other Nintendo executives will also take a pay cut between 20 and 30 percent. Iwata’s cut will run until June, but the said it could be extended past that date depending on what state Nintendo’s business is in at that point.

(via Develop)