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Nintendo Considering Acquisition or Merger
Speaking to Japanese outlet The Nikkei, Nintendo president Satoru Iwata says that he isn’t ruling out aligning Nintendo with another company. “We should abandon old assumptions about our businesses. We are considering M&As as an option,” Iwata says. “For this reason, we’ll step up share buybacks.”
The company recently made a $1.2 billion stock buyback, and Iwata’s comments might explain the recent move. The market reached favorably to the move, as profits increased by more than 8.2 percent per share.
Iwata also responded to a fan question about the company’s listing on the stock index. “Quarterly earnings reporting is not a good fit for Nintendo,” Iwata says. “We don’t know in advance how much of a hit a product can be.”
But despite the current financial problems Nintendo is going through, investors shouldn’t expect the company to go private. “But it is thanks to the stock market that Nintendo has grown to what it is today,” Iwata says. “I don’t want to turn to a management buyout just because we are inconvenienced now.”
Iwata also recently slashed his salary in half as an apology to the company’s fans regarding the lack of success the Wii U is seeing.