Nintendo says CEO Satoru Iwata has died of cancer at 55 | Inquirer Technology

Nintendo says CEO Satoru Iwata has died of cancer at 55

/ 09:50 AM July 13, 2015

Nintendo Satoru Iwata

Satoru Iwata, president of Japan’s Nintendo, speaks at a press conference to unveil a new portable game console “DS Lite” in Tokyo, 15 February 2006. Nintendo said on July 13, 2015 that chief executive Satoru Iwata has died of cancer at 55. AFP

Nintendo said Monday that its chief executive Satoru Iwata has died of bile duct cancer at the age of 55, several months after he abandoned the Japanese videogame giant’s consoles-only policy.

In a brief statement, the Kyoto-based firm said Iwata passed away on Saturday.

Article continues after this advertisement

Iwata, who started off as a programmer, took the top post at Nintendo in 2002, two years after joining the firm and was more recently pushing a long awaited departure from its consoles-only policy in a bid to repair a battered balance sheet.

FEATURED STORIES

But investors appeared unfazed by the news at the Wii U console maker, with Nintendo’s Tokyo-listed shares jumping 4.48 percent to 20,390 yen ($166) at the start.

Last year, Iwata said he would slash his salary in half for several months to atone for the downturn at the maker of the Donkey Kong and Pokemon franchises, which has struggled as rivals Sony and Microsoft outpaced it in console sales.

Article continues after this advertisement

All three companies are also fighting off the trend toward cheap—or sometimes free—downloadable games for smartphones and other mobile devices.

Article continues after this advertisement

Nintendo’s chief had argued that venturing into the overpopulated world of smartphones and tablets risked hollowing out the core business and cannibalizing the hard-fought value of their game creations.

Article continues after this advertisement

But Iwata later acknowledged Nintendo had to move into new areas.

“The world is changing, so any company that is not coping with the change will fall into decline,” he said.

Article continues after this advertisement

Nintendo in March unveiled plans to buy a stake in Tokyo-based mobile gaming company DeNA as part of a deal to develop smartphone games based on Nintendo’s host of popular characters.

RELATED STORY

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

Nintendo sees transformation, but won’t forget ‘Mario’

TOPICS: Gaming, Nintendo, Satoru Iwata, technology
TAGS: Gaming, Nintendo, Satoru Iwata, technology

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.