Jump to content


Photo

Nintendo investor flabbergasted that Iwata has not resigned


  • Please log in to reply
10 replies to this topic

#1 Zinix

Zinix

    YA HOMIE.

  • Members
  • 4,410 posts
  • NNID:zinixzero
  • Fandom:
    The Twilight Zone Fandom

Posted 04 July 2014 - 07:26 AM

 

http://www.gameinfor...t-resigned.aspx

Nintendo’s recent annual shareholder meeting was held without company president Satoru Iwata present, but that didn’t stop investors from asking a variety of questions. Some inquiries were hard hitting, while others seemed to be more focused on offering ideas for products and perks.

One investor suggested that Nintendo create a handheld device that’s screen could be “manually extended” to double its size both horizontally and vertically. Another asked Nintendo to offer shareholders benefits like free games (but not consoles, because those are too expensive).

Other shareholders seemed more interested in Nintendo’s ongoing financial problems. One noted that, with the exception of Iwata, key company officials own relatively few shares of stock. The investor questioned whether executives were personally invested enough in the success of the company or simply acting as salaried employees.

“We believe that there is no connection between the number of shares a director owns and the enthusiasm he has for company management,” replied Genyo Takeda, senior managing director and Iwata’s stand-in for the meeting. “I hope you will understand our resolve to improve our performance to return to profitability, regardless of the number of shares our management team holds.”

Other investors questioned the “business responsibility” of management, pointing to three consecutive years of losses. In response, managing director Tatsumi Kimishima identified successful use of the Wii U gamepad as part of the problem and something the company will be focused on improving. “We are still having a hard time to make the best use of its new controller, the Wii U GamePad,” Takeda said to another investor.

There was even a call for Iwata to honor his commitment to resign during the question and answer session. “I, for one, was flabbergasted that Mr. Iwata continues to hold his position although he had said that he would resign if the company’s performance were bad,” a shareholder stated. Takeda responded that executives are taking responsibility by “recovering our business momentum.” In June 2013, Iwata denied that he was considering resigning in the face of poor company performance.

 

 


“Any state, any entity, any ideology that fails to recognize the worth, the dignity, the rights of man, that state is obsolete.”— Rod Serling, “The Twilight Zone” The Obsolete Man

Smoke meth. Hail Satan. Watch the yearly Twilight Zone marathons. Talk to dead people. Everyone is gay. Ignore people. Live life to the fullest.


#2 Hank Hill

Hank Hill

    Propaniac

  • Moderators
  • 2,203 posts
  • NNID:GameCollector
  • Fandom:
    Professor Layton, inFAMOUS

Posted 04 July 2014 - 07:53 AM

Yeaaaah, Iwata! You only lead us to the most profitable decade we ever had! WHY AREN'T YOU GONE YET?!


GameZombie44.png

 

The post above was certified to be simply smashing by the Wii U Forum Staff.

 

http://www.ebay.com/...mecollector1982

 

 


#3 Socalmuscle

Socalmuscle

    Hammer Bro.

  • Members
  • 1,677 posts

Posted 04 July 2014 - 12:23 PM

I have had serious doubts about Iwata in the last few years.

But, if a leader is not allowed to stumble, how does he learn and grow?

If the leader who stumbles is always replaced by an "undefeated" leader, it only ensures more defeats down the road for the company.

This way, a battle-scarred leader knows the stakes and the sting of defeat prompts him into over-preparedness later. That's only a good thing. Iwata is relatively young and he has had a fairly easy, smooth road -just make safe hardware while putting the innovation into the software. But the 3ds launch showed people want more oomph. And the wii u sales show that warranted or not, the PERCEIVED hardware weakness of the wii u is not doing it any favors. Then there is the lack of third party support.

Iwata has tasted defeat. I'll bet that he becomes much more like Yamauchi in the future, bout better balanced. More scrappy, taking greater risks, more concerned with hardware specs. And more concerned with third party initiatives.

Looking forward to see what that means.

#4 NintendoReport

NintendoReport

    NintendoChitChat

  • Moderators
  • 5,907 posts
  • NNID:eddyray
  • Fandom:
    Nintendo Directs and Video Presentations

Posted 04 July 2014 - 01:50 PM

 I am more flabbergasted an investor used the term, flabbergasted.

 

firefly.gif


Keep Smiling, It Makes People Wonder What You Are Up To!
PA Magician | Busiest PA Magician | Magician Reviewed | Certified Magic Professionals

nccbanner_by_sorceror12-d9japra.png-- nintendoreportbox.png -- nintendo_switch_logo_transparent___wordm

#5 storabajskorven

storabajskorven

    Boo

  • Members
  • 572 posts
  • NNID:Stranders

Posted 04 July 2014 - 11:45 PM

This was the same guy who was annoyed that they were discussing video games, right?

#6 Scumbag

Scumbag

    Pokey

  • Members
  • 1,177 posts

Posted 05 July 2014 - 02:18 AM

Maybe it will make him better in the long term and maybe give the guy one more chance. Wasn't iwata considered a engineering genius or something back in the day?



#7 Raiden

Raiden

    wall crusher

  • Members
  • 4,738 posts

Posted 05 July 2014 - 07:15 AM

Maybe it will make him better in the long term and maybe give the guy one more chance. Wasn't iwata considered a engineering genius or something back in the day?

That was Gunpei Yokoi who sadly passed away in the late 90's from a car hitting him. He created Game & Watch,Metroid and Gameboy and post Nintendo created WonderSwan. Iwata was a developer for HAL which worked on Kirby,Earthbound and Smash Bros and he still sometimes helps out in development.



#8 SamuraiDeity

SamuraiDeity

    Spiked Goomba

  • Members
  • 19 posts

Posted 05 July 2014 - 09:29 AM

I can see both sides. Yes, Iwata should be able to mistakes, but at the same time, from what I understand, he didn't have full control until after the release of the wii. He was still being kind of mentored and supervised in ways. I guess if investors believe he has a good plan to become profitable again and then move on from there, give him a chance.



#9 Zinix

Zinix

    YA HOMIE.

  • Members
  • 4,410 posts
  • NNID:zinixzero
  • Fandom:
    The Twilight Zone Fandom

Posted 05 July 2014 - 09:36 AM

Maybe Iwata got pity votes because he's dying, I dunno. 


“Any state, any entity, any ideology that fails to recognize the worth, the dignity, the rights of man, that state is obsolete.”— Rod Serling, “The Twilight Zone” The Obsolete Man

Smoke meth. Hail Satan. Watch the yearly Twilight Zone marathons. Talk to dead people. Everyone is gay. Ignore people. Live life to the fullest.


#10 flowerlandfilms

flowerlandfilms

    Cheep-Cheep

  • Members
  • 125 posts

Posted 05 July 2014 - 08:05 PM

Iwatas approval rating whent down from the high 90's to the mid 70's. People make a big deal about that, but it's really like going from "Unanimous" to "Vast Majority".
He is still very popular with the people who count, and deserves to be.



#11 3Dude

3Dude

    Whomp

  • Section Mods
  • 5,482 posts

Posted 06 July 2014 - 04:35 PM

This was the same guy who was annoyed that they were discussing video games, right?


Yes. Its actually part of the same quote but... well... gamz girnoliz.

The guy is angry that Iwata is not discussing how hes going to use capital gains to give investors, particularly him, more money through dividends.

Capital gains is profit made via selling off company assets like stock (not applicable here) bonds (not applicable here) or physical assets like buildings, equipment and real estate.

He wants iwata to fire development teams, sell their equipment, sell the buildings they worked in, and sell the land the building was on, and give a portion of that money to him via dividends.


In other words, he wants an immediate short term small time gain, at the expense of the companies future.

See, if chuckles knew anything about making video games, or people in general, he would know firing entire departments for short term gains pisses people off, and for those who didnt get screwed over, makes them worried about job security and finding new employment before the next round of layoffs, instead of making great games.

This is why Iwata has a strict no lay offs policy. And is a picture perfect example of whats wrong with the vast majority of the rest of the industry.

banner1_zpsb47e46d2.png

 





2 user(s) are reading this topic

0 members, 2 guests, 0 anonymous users

Anti-Spam Bots!