GalacticPetey
Donkey Kong
Here's some info about a meeting Iwata is holding right now. Interesting stuff.
Here's the live blog: http://blogs.wsj.com/digits/2014/01/29/live-nintendos-strategy-briefing-to-address-future-direction/
Here's the live blog: http://blogs.wsj.com/digits/2014/01/29/live-nintendos-strategy-briefing-to-address-future-direction/
President Iwata apologizes for the big cut in its full-year guidance, bows for three seconds. But he says hes not pessimistic about the game console outlook. And there is no change to game console being the center of its strategy. He insists the company will not be abandoning its hardware business.
President Iwata says he needs to revamp its marketing for this years holiday season. Putting priority on making software that make most of Wii U game pad capabilities. Says he will fully utilize NFC function and says the company has overcome technological hurdles to making virtual consoles.
And heres some good news: Nintendo is launching Mario Kart 8 in May. Mr. Iwata says hell make sure this wont be just a one-off boost in momentum.
The key question is how is Nintendo going to take advantage of the rise in smartphones and tablets? Investors have long called for its titles to be released on non-Nintendo platforms. Mr. Iwata says Nintendo will actively use smart devices to make connections with customers. That is, theyll use smart devices as a catalyst to encourage customers to use its Nintendo platforms. Short answer, hes not going to release Nintendos titles on other platforms.
Investors may not be feeling the presentation. Nintendos shares turn down on the Tokyo bourse.
Nintendo may not be releasing its popular franchise on other platforms, but Mr. Iwata says the company will license Nintendo game character rights to new partners.
Whats Mr. Iwata going to focus on for the next 10 years? The main theme: enhancing the quality of life through entertainment. The key word is health, Mr. Iwata says. Citing a flood of wearable devices already on the market, he says Nintendo is trying out something completely new: non-wearables to monitor your health.
For those of you wondering what non-wearables are, Nintendo will unveil the details of its new business during 2014 and launch it for the fiscal year through March 2016. Mr. Iwatas speech is now over. And now the Q&A session is starting.
Okasan Securities analyst is asking for details on the new service apps for smart devices and on capital spending plans. To that question, Mr. Iwata says hes not aiming for short term revenue boost but the service app is aimed at building a bridge with customers and bringing more information on Nintendo. But he admits its hard for people to use the apps on a regular basis if its just for marketing purpose.
Mr. Iwata says the big boost in capital spending plan is for Nintendo to tackle areas that its not good with. So where is Nintendos soft spot? Thats a secret, Mr. Iwata says with a grin.
Answering another analysts question on how the company plans to return to profitability, Mr. Iwata says the DS will be the main driver for profit for the next fiscal year and the firm will focus on more efficient marketing. Expectations also high for two popular games lined up: Mario Kart and Super Smash Bros.
The ire of investors may be growing. Nintendos stock is now off 4%, worse than a 3.2% fall in the benchmark Nikkei Stock Average.
To another question that was a bit too long to recap here, Mr. Iwata says hes never considered quitting. My conviction and passion have not been shaken, he says, though adding he took the pay cut because he did feel he does need to take responsibility.