Iwata takes Responsibility for 3DS, Cuts Own Salary 50% Other Execs 30% Cut

"gibbogame David Gibson

Iwata taking responsibility for 3ds,, taking 50% salary cut and other execs 30% cut, reduced bonuses too

53 minutes ago" Twitter

Iwata's annual salary is $767,313 which is now $383,656

Former Nintendo president Hiroshi Yamauchi just lost half a billion dollars. In one day due to heavy investment in Nintendo stock

Hardcore if true.

Whoa! Since when do executives take severe salary cuts? What kind of crazy world do we live in!?

Holy crap, thats crazy, glad to see execs who actually care about the product :P

He probably won't miss the 50 million or so he just lost. But on a different note, it is true that you never, ever, ever, see executives taking the hit. Thus, to see him do it is, well, quite abnormal and admirable at the same time. Props to you :)

He probably won't miss the 50 million or so he just lost. But on a different note, it is true that you never, ever, ever, see executives taking the hit. Thus, to see him do it is, well, quite abnormal and admirable at the same time. Props to you :)

StrifeDelivery

Surprisingly, Nintendo's heads were not among the top-ranking income owners. In the report, Nintendo listed an annual salary of ¥187 million (US$2.1 million) for CEO Satoru Iwata, a figure that includes a ¥68 million (US$767,313) base salary, with the rest awarded based on performance.

A group of six Nintendo board members--including Mario creator Shigeru Miyamoto--share an earnings bonus pool of ¥100 million per year (US$1.13 million) on top of their annual salaries.

The original source also lists a salary comparison to other game company heads. Sega Sammy Holdings CEO Osamu Satomi earns ¥435 million a year (US$4.9 million); Sony CEO Howard Stringer earns ¥816.5 million a year (US$9.2 million), while Sony CFO Nobuyuki Oneda earns ¥164.39 million a year (US$1.85 million); Namco Bandai Holdings president Kazunori Ueno earns ¥137 million a year (US$1.5 million); and Square Enix CEO Yoichi Wada earns ¥240 million a year (US$2.7 million).

Source

Gamespot

That's right Iwata's annual salary is $767,313 which is now $383,656 :shock:

Its nice to see him having such a passion for his products, but he doesnt have to so drasticly cut his pay :( Its not like he could had predicted such a poor start to the 3DS's life cycle.

Well, if I were in his place, I cant say I would do the same thing. Infact I would probably make up some excuse as to why the 3DS isnt doing well and point the finger anyway but at myself. He is more of a man than I'll ever be. Gotta respect that man.

Wow, thats crazy...That's alot lol.

If only US CEO would do the same. Ah who am I kidding,

If only US CEO would do the same. Ah who am I kidding,

tutt3r

His body might be ready, but his wallet isnt ready for such a decrease in pay.

Wow no one can say niny does not care. Jesus I hate to see people get drastic pay cuts like that, but why is this public information that should be private.

Wow, thats crazy...That's alot lol.

GAMBIT1551

How is that funny?

Wow no one can say niny does not care. Jesus I hate to see people get drastic pay cuts like that, but why is this public information that should be private.

Mercenary848

That's a pretty good move from Iwata. He's taking the business very seriously, I like it.Haziqonfire

I like it too, but I've never heard of a CEO cut his own pay, let alone by 50%

I would think something like this is more common among Japanese companies. They tend to care more about being 'honorable' over there.Meinhard1

A company's leader cuts his own salary? That's a first.

[QUOTE="Meinhard1"]I would think something like this is more common among Japanese companies. They tend to care more about being 'honorable' over there.DJ_Lae

Nah, an American company would lay off its workers and continue to give extreme bonuses and raises to their administration and CEO. Probably ask for a bailout from the government too.

Nifty move, and now the Japanese will call them soo honourable.

That's like Harakiri...:shock:, but in the exec world... :? (I think...)

Japanese.. so honorable. :')

no imn ot racist.. im asian and we have honor too.

you can tell iwata actually cares about nintendo

You don't see many execs willingly take said blame. it is commendable for his actions. We can reward him though if he gave us the opRainfall and we would gladly help him out of his tight spot ^^

If only the US Congress could do the same...

I'd say that's pretty responsible of them. Takes a lot of balls to do something like this. Any word on how much he cut Reggie's salary? :P

Made me laugh my guts out.

Ouch, sir. It nice gesture, but not really neccessary...

Just put out some good games and we'll call it even. And please beat the crap out of your American branch.

I don't like the American branch. They're mean to me. However, I can't figure what the Japanese branch guys are saying so it's OK I guess. :p

Made me laugh my guts out.

Spinnerweb

why did you laugh?

Because ... you know ... Reggie's salary.

They had to do this. It's no secret that Nintendo's profits are way down and much lower than they anticipated. If they didn't cut their salaries, Nintendo could seriously go out of business altogether and then he'd be stuck with no job.GAMESHARQ

If only the US Congress could do the same...

I'd say that's pretty responsible of them. Takes a lot of balls to do something like this. Any word on how much he cut Reggie's salary? :P

nintendofreak_2

^ this post probably made him laugh.

[QUOTE="GAMESHARQ"]They had to do this. It's no secret that Nintendo's profits are way down and much lower than they anticipated. If they didn't cut their salaries, Nintendo could seriously go out of business altogether and then he'd be stuck with no job.ZIVX

I was referring to this info that was just recently released.

[QUOTE="ZIVX"]

[QUOTE="GAMESHARQ"]They had to do this. It's no secret that Nintendo's profits are way down and much lower than they anticipated. If they didn't cut their salaries, Nintendo could seriously go out of business altogether and then he'd be stuck with no job.GAMESHARQ

I was referring to this info that was just recently released.

but I doubt Nintendo is even close to going bankrupt even after all this

[QUOTE="Meinhard1"]I would think something like this is more common among Japanese companies. They tend to care more about being 'honorable' over there.DJ_Lae

Nintendo needs this man to run their company

Awesome 80's guy from Futurama will make everyone buy 3DS's, even if they don't know why.

That's awesome. Awesome to the MAX.

You don't see many execs willingly take said blame. it is commendable for his actions. We can reward him though if he gave us the opRainfall and we would gladly help him out of his tight spot ^^

Zanoh

It's not like they'll fire him, he's the perfect in house pick for leader of their company.

He must be one humble man, and he earns even more respect from me for it. You don't hear of company executives slashing their own salaries. Usually they either get fired or lay off employees. Then again, Japanese companies are managed differently than their Western counterparts. This likely has to do with the Eastern tradition of honor, and Iwata is punishing himself for doing dishonor by rushing the 3DS to market.

And it's not like Iwata, Miyamoto, and Yamauchi are all going to go broke. In the case of the first two, they just won't be making as much money for a while. Yamauchi still has billions more money, and while he took a big hit, it only made a dent in his tough armor. Bill Gates and Warren Buffet took similar hits before.

But, there will still be those fringe fanboys that will take this as a Nintendogeddon and jump ship, despite a island of coins awaiting on the other side of the raging economic sea. You can't tell me that there's no light at the end of the tunnel. Perhaps this will help Nintendo make sure the launch of the Wii U will be more successful?

That's a pretty good move from Iwata. He's taking the business very seriously, I like it.Haziqonfire

But, there will still be those fringe fanboys that will take this as a Nintendogeddon and jump ship, despite a island of coins awaiting on the other side of the raging economic sea. You can't tell me that there's no light at the end of the tunnel. Perhaps this will help Nintendo make sure the launch of the Wii U will be more successful?

1-Up_Gamer

It's good that they aren't just going to do massive lay-offs, like I've seen others do to save money. They aren't in any trouble...or at least they shouldn't be, after all the money they made off the Wii and DS.