Iwata implies he may resign over poor business performance

Iwata implies he may resign over poor business performance

Cheesemeister is at it again, offering the gaming world a look into the Japanese industry with his translations. This time he’s posted something a bit worrying on Neogaf:

Translation of ITmedia report follows:

At an analysts\’ meeting on the 31st, Nintendo President Satoru Iwata (53) implied that there is a possibility that he may resign if he is unable to achieve 100 billion yen (US$1.09963 billion) in operating income for the next fiscal year. The company had recently revised its forecast for operating income for the full year ending March 31, 2013 to -20 billion yen (US$220.144 million), making the goal a high hurdle. Iwata aimed to appeal to investors by putting himself on the line to recover the business.

President Iwata, having seen 2 consecutive years of losses, apologized by saying, \”We feel greatly accountable for this severe outlook.\” He further explained that the basis of meeting the goal by saying, \”…we plan to actively release our key titles for Nintendo 3DS which could potentially lead the markets this year.\”

In the midst of sluggish sales for the next-generation home console Wii U released last year, Iwata also indicated that portable and home console development groups would be merged.

When asked how he would take responsibility if the goal is not met, Iwata emphasized his strong determination by saying, \”Please understand that [achieving it] is my commitment.\”

[Read More in his post on Neogaf]