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Nintendo's Former President Just Lost Half a Billion Dollars

Illustration for article titled Nintendos Former President Just Lost Half a Billion Dollars

A disastrous last quarter in terms of sales has sent Nintendo's share prices through the floor. If you own Nintendo shares, sorry! But hey, even if you do, it could be worse; spare a thought for former president Hiroshi Yamauchi. He just lost $500,000,000 in one day.

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It's not like he'll be out on the street; Yamauchi, who used to be Japan's richest man, is so rich he can take a $500 million hit (caused by a drop in over 20% of Nintendo's share value) in his overall wealth and still rise to greet the day.

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But boy, losing $500,000,000 in a single day has gotta hurt. I lost $2 down the side of my driver's seat last week and went through half a box of tissues!

Yamauchi ran Nintendo for over 50 years, and also used to own the Seattle Mariners baseball team.

Nintendo President Loses $500M in Single Day [Bloomberg]

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DISCUSSION

Well, that's it, I may have to stop my daily visits to Kotaku. I have exactly one tab (and no memory hogging programs) open and the site won't even scroll properly. It's a fucking slideshow. This layout update performs even worse.

Anyways, regarding the story: Wii was a happy accident that only worked as well as it did because it got non-gamers to think you could exercise with it. I might have mentioned it before, but my Aunt thought the Wii was an absolutely great thing until I sat down while playing it (I was only standing up because the sensor bar was being finnicky). She thought it was giving me exercise, and oh no, suddenly it's a traditional game machine. The horror!

Nintendo (particularly NoA) seems to fail to realize that their core audience (and games for that audience) is quite important. That interview with Keighley at E3 showed a profound disrespect for those consumers.

I think that's ultimately why Operation Rainfall failed when going up against NoA. It's guys like Reggie (who have been responsible for greenlighting games) and this... I don't know... this attitude of "we want to appeal to soccer moms and such." I almost think Reggie seems ashamed of core gamers and normal AAA games. Even the name, WiiU, is a very touchly feely sort of thing. That's the kind of attitude Nintendo has.

Look at what Nintendo's been pushing for the longest time. It's all the sort of stuff that's extremely inoffensive, cutesy, and cartoony. I think Nintendo corporate realized that they were getting it wrong, but for whatever reason, they don't understand how important internet connectivity and online purchases are yet (Reggie wouldn't talk about it, and said "it's not important," "everyone takes it for granted," and something like "we're not trying to appeal to your audience, Geoff."). They haven't even got enough internal storage capacity to make downloading on the WiiU (which is a dumb fucking name) worthwhile.

This new controller is a neat idea, but it looks uncomfortable for long gameplay sections. For whatever reason, the DS and the Wii gimmicks both worked. The DS actually has a decent number of worthwhile games for it, and is still the only really worthwhile portable games platform out there (aside from phones, which are catching up fast). The 3DS and WiiU gimmicks don't appear to be capturing imaginations as much.

Blah. I'm sure you all know this. I know it's been said a lot before. Too bad Nintendo isn't listening.

Maybe "why did I lose $500b?" will get stuff done.

Hopefully Nintendo will terminate those people at Nintendo of America who are into this touchy feely family games stuff, hire a bunch of people who realize the people who spend money on them most of all are males ages 18-35, and start marketing in that direction, like what Microsoft and Sony have done.