We are talking about millions lost.
With all his pride Nintendo Preside Sotoru Iwata was clamoring the 3DS and how it's the next best thing since sliced bread and how even though it wasn't selling as well as they thought, it was still selling pretty darn good.
With the announcement of slashing it's profit forecast, shares of Nintendo fell on the stock marker and it seems everyone at Nintendo including former president Hiroshi Yamauchi lost money on this deal. Former President of Nintendo Hiroshi Yamauchi who owns 10% of Nintendo and is the great grandson of the original founder lost $300 million when Nintendo stock took a hit in the stock market.
Hirosh Yamauchi isn't the only one loosing money though as current Nintendo President Sotoru Iwata has accepted the blame for the 3DS and has decided to take a 50% cut from salary. Other Nintendo suits are also taking a cut in their pay.
"For cuts in fixed salaries, I'm taking a fifty percent cut, other representative directors are taking a 30 percent cut, and other execs are taking a 20 percent cut," Iwata explained.
I want to see Reggie's pay get cut 50% too. For you to see the gravity of the situation Sotoru Iwata brings home a hefty paycheck of $2 mil annually.
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