I will not resign, pledges Iwata

Nintendo president Satoru Iwata has pledged to fight on in his battle to return Nintendo to profitability.

Yahoo News reports that the exec told shareholders in a meeting this morning that his failure to return the platform holder to profitability – as he had previously pledged last year – does not mean he should resign.

Furthermore, he has pledged that there will be no major management shake-up in the short term”.

It’s also worth noting that Nintendo last year consolidated its home and handheld divisions, the fruits of which will not start appearing until the next financial year.

Focus will now turn to markets, with fears that today’s numbers will mean bad things for the company’s share price, which has in Tokyo fallen by nearly ten per cent from 16,130 to 14,640 since January 10th.