Boss at crisis hit Nintendo takes 50% pay cut

Nintendo will spend as much as 125 billion yen ($1.2 billion) buying back shares after Christmas shoppers shunned its Wii U console and games featuring Mario and Zelda.

29th January, 2014
Nintendo's Mario character.

Nintendo will spend as much as 125 billion yen ($1.2 billion) buying back shares after Christmas shoppers shunned its Wii U console and games featuring Mario and Zelda.

The world’s largest maker of video-game machines will buy back as many as 10 million shares, or as much as 7.82 per cent of outstanding shares, the company said in a statement today.

Nintendo had about $8.6 billion of cash and equivalents and zero debt as of Sept. 30.

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