Nintendo Executive Salaries Revealed! Business news of the week

The salary of Nintendo executives has been announced… and it’s much lower than that in the United States

If salary is a taboo subject in France, this is not necessarily the case on other continents: beyond mere curiosity, The remuneration of a company’s executives can also say a lot about the corporate culture of the organization and some of the shared values. In this case, Nintendo is affected.

Therefore, in its most recent annual report, covering the most recent fiscal year ended March 31, 2023, it disclosed the annual salaries of Nintendo’s thinking minds. So, Nintendo President Shuntaro Furukawa won $2.51 million ($2.28 million) in the last financial year. He’s the highest paid person in the entire company.

Shuntaro Furukawa, President of Nintendo

Follow the iconic Shigeru Miyamotostill present at Nintendo (and to whom, as a reminder, we owe the creation of Mario, The Legend of Zelda and so many others). $2.02 million ($1.84 million).

In third place we find Nintendo of Europe President Satoru Shibata with $1.19 million ($1.08 million) and finally Nintendo’s general manager and chief executive officer, Ko Shiota, with $910,000.

When we know that Nintendo is one of the most powerful companies in the industry with $306.5 billion in its last fiscal year and net income of more than $3 billion, those compensations don’t matter that much. Above all, When you compare it to the other big names in the industry, the difference is shocking.

For example Square-Enix CEO Yosuke Matsuda earned over $4 million in 2020 alone. $3 million was also earmarked for SEGA CEO Hajime Satomi. Two companies that turn out to be publishers and developers (like Nintendo) but not manufacturers.

Andrew Wilson earned $34.7 million a year alongside Electronic Arts. Finally, an overwhelming note: Not so long ago, Activision Blizzard President Bobby Kotick caused a stir with his whopping $154 million in annual compensation, which did not prevent the company from vehemently quitting. Day and night with Nintendo…!

Embracer tries one more step to get out of a tight spot

Embracer Group, the parent company behind THQ Nordic, Deep Silver and many others, is a rising star whose appetite has proven insatiable in recent years. Indeed, the Swedish company has acquired an enormous number of video game franchises, but also several studios (Gearbox, the company behind Borderlands, or 4G Games, behind Metro). before he even took over the rights to The Lord of the Rings not too long ago.

An impressive expansion but ultimately led to a deteriorating economy: CEO Lars Wingefors announced the closure of several studios, the cancellation of several games and the layoff of many people three weeks ago. question thatTermination of a $2 billion contract that the company had been betting on fell through and led to Embracer Group getting back on its feet.

In short, the parent company is therefore looking for new financing and in order to do so, It has just announced that it has raised SEK 2 billion or EUR 168 million by issuing 80,000 new shares. The latter then target Swedish institutional investors (Embracer’s headquarters are in Karlstad, Sweden) and international investors. Each share costs around 25 SEK (2.11 dollars).

Naturally, The idea is to reduce the company’s net debt, in this case by reducing it to SEK 8 billion (EUR 623 million) from the current SEK 15.6 billion (EUR 1.31 billion)., at the end of the current financial year. “The Company’s operational and financial performance remains on track and in line with management’s expectations, driven by a strong performance of Dead Island 2 in the first quarter of 2023,” said Lars Wingefors.

The strong support of existing and new investors in this equity offering demonstrates strong belief in Embracer Group’s strategy to become a stronger company by unlocking the Group’s significant untapped potential.

As the restructuring program progresses as planned, the proceeds from this share offering will further strengthen our financial position, improve both our cost of financing and our operational flexibility, and allow us to focus on core aspects of the program. Ultimately, this will enable our entrepreneurs and developers to continue delivering exceptional and memorable experiences to players and fans around the world.

Ubisoft announces its first blockchain-based game

Last year, The blockchain, NFTs and other Web 3.0 made a lot of noise, with some heralding it as the next digital revolution, sparking the rise of a vast, high-profile economy. Then, it literally collapsedThousands of investors lost some of their entire savings.

A real hit and yet Ubisoft wants to persevere. Following the failure of the Quartz platform, the French publisher and developer has just discreetly announced the news a brand new game called Champions Tactics Grimoria Chronicles, with a simple video teaser. No gameplay is announced, but we know it will be a tactical role-playing game based on PvP and above all on the blockchain.

In the current economic context of Web 3.0 and the almost total deflation of the hype, there is something to surprise many about the topic. Champions Tactics Grimoria Chronicles will definitely use Oasys, a platform dedicated to video game developers, backed by big names like SEGA or Square-Enix. We don’t yet know if and how NFTs will be deployed, but the news isn’t really being well received by netizens, sometimes the same who were curious about the technology at the time… and who, in 2023, are proving cautious, even downright recalcitrant .

In a situation where Ubisoft hopes to restore its image after a turbulent financial period, particularly with the help of the strong comeback of Assassin’s Creed, The Crew and other strong licenses, The revelation of Champions Tactics Grimoria Chronicles does get the ink flowing, and not necessarily forever. However, we’ll see how far the project will take its players, or at least what Ubisoft has planned and if it really comes to the end of its ideas.

Briefly in this week’s video game business news

• IO Interactive, the Danish studio behind Hitman, has just opened a brand new office in England, in Brighton, to work on Project Fantasy and Project 007 (the new James Bond game). Around 400 employees are planned within 18 months.

• A new study by Niko Partners shows that 38% of Asian gamers are women

• Atari just announced a new partnership with Playmaji, the company behind the retro console Polymego, to bring its games to this console and collaborate on the Atari VCS.

• In France, Final Fantasy XVI is the best-selling video game of the week on the physical market.

Our other business articles of the week at JV

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