Nintendo reported a net profit of 9.6 billion yen (around $93 million) in the last three months of 2013 on the back of shipping 1.95 million Wii Us across the quarter. Despite that holiday success, the company posted a year-on-drop for its first three fiscal quarters, the nine months ending in December 2013. Net profits fell by just under 30 percent to 10.2 billion yen ($99 million), with Nintendo noting the Wii U has continued to bring down its figures, chiefly because of price cuts in the US and Europe. Nintendo slashed its sales forecasts for the fiscal year earlier this month, and expects to post a net loss of 25 billion yen ($242 million) for the fiscal year ending in March 2014.
There's been no official announcement yet, but Nintendo CEO Satoru Iwata and members of the board are reportedly taking a temporary pay cut in response to the company's recent downturn. According to French news agency AFP (via Polygon), Iwata told reporters in Tokyo he would take half his normal pay for five months, with board members receiving a 20 to 30 percent cut. If accurate, it wouldn't be the first time in his tenure that Iwata has taken a pay cut: His salary was also halved in 2011, the reason then being poor 3DS sales.