Nintendo buys $1.1 billion of its own shares, Yamauchi family contributes

Nintendo purchases $1.1 billion regarding its own shares, Yamauchi family members contributes | JoystiqNintendo offers bought back again 9.5 million shares of its own stock, valued at 114.2 billion yen ($1.1 billion), throughout its 1st key to stabilize the company's changing financial situation. the family members regarding Hiroshi Yamauchi, Nintendo's late (and great) CEO, marketed back again any portion of its shares throughout this buyback, according for the acquisition document. We got wind with the Yamauchi family's involvement yesterday.Nintendo's year-on net profit fell by 0.3 inside the final nine a couple of months associated with 2013, pulled down mainly by poor Wii U sales, the business reported. Net profit during this time has been 10.2 billion yen ($99 million). Nintendo expects to post a net loss involving 25 billion yen ($242 million) regarding its fiscal 12 months ending inside March.Nintendo CEO Satoru Iwata and his board members are usually getting temporary pay cuts, French information outlet AFP reported. Iwata will consider half of his salary with regard to five months, as well as board members will discover cuts of twenty % for you to 30 percent. Iwata took a new comparable pay cut throughout 2011, that will time for you personally to offset poor 3DS sales.[Image: Nintendo]