After apologizing to shareholders during a press conference today in Osaka, Japan, Nintendo president Satoru Iwata said he would not resign despite a bleak financial forecast, according to a report today from GameSpot.
“There will be no major management shake-up in the short term,” Iwata told Reuters, along with a group of other news outlets, today.
Because of the bleak sales forecasts, Nintendo expects to operate a loss come the end of its financial year in March to the tune of 35 billion yet, or roughly $335 million.
The flop of the Wii sucessor, according to one analyst, likely will trigger a sell off of Nintendo shares. You can read that full Examiner report by clicking here.
The dreary news comes just a day after market research firm NPD Group said Nintendo’s 3DS console outperformed all other consoles globally in 2013.