Nintendo denies Miyamoto retirement reports

Posted By | On 08th, Dec. 2011 Under News | Follow This Author @KartikMdgl

Nintendo’s shares have fallen by over 2% after reports of Miyamoto stepping down from his position. It seems that Miyamoto is very important for Nintendo even though he is 59 years old, as the shareholders realize his value to the company.

Nintendo has denied the reports about Miyamoto retiring and said, “This is absolutely not true,” said a Nintendo Spokeswoman. “There seems to have been a misunderstanding. He has said all along that he wants to train the younger generation.

“He has no intention of stepping down. Please do not be concerned.”

So Nintendo fans can heave a sigh of relief as the games designer isn’t going anywhere. It remains to be seen if the shares bounce back after this denial by Nintendo, although, 2% isn’t a lot when you think about it.

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