Despite Nintendo receiving its third consecutive annual loss, Nintendo CEO Satoru Iwata has refused to step down. At an investor’s meeting in Osaka yesterday, Iwata apologized to investors for Nintendo’s revised forecasts. However, Iwata still said, “There will be no major management shake-up in the short term.”
According to Iwata, international sales continue to be a problem for the Wii U. “In particular, sales in the US and European markets in which we entered the year-end sales season with a hardware markdown were significantly lower than our original forecasts, with both hardware and software sales experiencing a huge gap from their targets.”, Iwata said.
You can check a full explanation of Nintendo’s revised forecast here.