IN BRIEF
TOKYO — Profit at Nintendo fell 30 percent in the first nine months of the fiscal year as sales of Wii U home consoles, 3DS devices and game software languished. Top executives announced they would take pay cuts.
The Japanese maker of Super Mario and Pokemon video games reported today a $99 million profit from April to December. It did not break down quarterly numbers.
Nintendo’s president, senior managing director, managing director and directors said they will take a pay cut for five months starting in February to take responsibility for the poor performance.
President Satoru Iwata’s pay will be halved, two representative directors including reputed game creator Shigeru Miyamoto, were hit with a 30 percent cut. The other seven board members will lose 20 percent of their pay.
The popularity of smartphones, tablets and other gadgets has been drawing consumers away from consoles devoted to games.
“It would be a positive surprise if Nintendo comes out with an online game strategy for smartphones, although the market doesn’t expect that move,” said Tomoaki Kawasaki, senior analyst at IwaiCosmo Securities.
