Nintendo president Satoru Iwata has insisted he will not resign from his position despite accepting responsibility for the company's abject commercial performance.
On Friday, the company slashed its Wii U sales forecast from 9 to 2.8 million units - a dramatic reduction that it expects will swing its full-year results from profit to loss. Iwata joined Nintendo's corporate planning division in 2000Iwata apologised to shareholders in Kyoto for the extent of the under-performance, and insisted his intention was to rapidly reverse the company's fortunes. According to a report from Japan news groupNikkei, the Nintendo executive insisted he would not resign.
Sales of both Wii U and the 3DS handheld are significantly under expectations. However, throughout 2013 the 3DS was the best-selling console across the US, Japan and many parts of Europe. The system sold record numbers on certain occasions.
But the company's Wii U business is currently in gradual decline, with its first six months outperforming the most recent six. Globally, software for the original Wii still outsells the Wii U's. Meanwhile, the release of Super Mario 3D World - an acclaimed game that was expected to drive sales - has not stimulated the market, with the game failing to pick up meaningful sales in the west.
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