Nintendo is definitely in a very bad place right now as they have lowered their current fiscal year projections from a profit to a loss, as we reported last night. As a result, many eyes have been on Satoru Iwata, current president of Nintendo, to see if he may resign due to the state of the company.
However, he has come out to dismiss that notion while apologizing to shareholders for Nintendo in Kyoto, Japan. Some thought he may resign based on some reports last year that said he would step down if the company was in a bad position as a result of his presidency, but he later said those comments were misconstrued.
In his apology, Iwata said that he goal had been to “rapidly reverse the company’s fortunes.”
