Nintendo President Iwata’s Pay Cut by 50%, Miyamoto and Board of Directors Also Affected

Nintendo President Iwata’s Pay Cut by 50%, Miyamoto and Board of Directors Also Affected

Nintendo announced in a press conference held today in Osaka that President Satoru Iwata is going to accept a voluntary pay cut by 50% for the period between February and June.

The other two representative directors (including development legend Shigeru Miyamoto) will also see their earnings cut by 30%, while the rest of the board will have their salaries reduced by 20%.

The decision has been chalked to “the current business environment,” and follows the announcement of the earning results for the first three quarters of the current fiscal year.