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January 29, 2014

Nintendo executives take big pay cuts after net income drop

Due to poor financial results, Nintendo bosses are taking pay reductions between 20% and 50%.

By Kate Heslop

Nintendo’s top executives are taking temporary pay cuts as the company unveils its financial results for the last nine months.

It has been reported that Nintendo’s net income has fallen to 10.2bn yen (around £60m) for the April to December 2013 period, down from 14.55bn yen the previous year.

The president and CEO of Nintendo, Satoru Iwata, is expected to take a 50% pay cut and the entire board of directors have taken 20% pay reductions. The general manager, Genyo Takeda, and the creator of Mario and Zelda, Shigeru Miyamoto, will both take a 30% pay cut.

The pay cuts are only temporary and should be reversed by June, depending on how Nintendo presents itself to investors and if the board thinks they can afford to go back to normal pay.

Nintendo is due to reveal a new business strategy on Thursday.

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