The lights are on
Former Nintendo president Hiroshi Yamauchi just lost more than $300 million in stock value due to Nintendo's 3DS price drop.
The company's stock price fell 12 percent on the news that it was dropping the price of the 3DS yesterday. Yamauchi, the former president and great-grandson of Nintendo's founder, reportedly held 10 percent of the company's stock as of March 31 of this year. This means that his stock is now worth $312 million less than it was before the announcement, reports Bloomberg.
Yamauchi isn't the only Nintendo luminary to be feeling the heat. Today current president and CEO Satoru Iwata announced that he and other executives will be taking a pay cut as Nintendo tries to find its way.
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Dang. Sucks, bro.
It good for the consumers though, sucks for these guys... I think the gaming industry in general is lossing money for numerous reasons, its tough!
Ouch! I'm not trying to diminish his losses, but losing $300 million over a few percentage points in the stock market is just a drop in this guy's bucket. It's like Japan's version of Bill Gates.
hope this gets better
There is a ton riding on next year.
Yeah, stock is huge, but it has the potential to go back up. Its not like he is certainly out for 300 million. Though, we have to wait and see if they do bounce back.
That's a bit of a hit x.x
great time to buy nintendo stock