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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Miyamoto has revealed his future career direction in an interview with Wired.com. He is currently 59 years old, and has created a lot of masterpieces for a decade.

“Inside our office, I’ve been recently declaring, ‘I’m going to retire, I’m going to retire. I’m not saying that I’m going to retire from game development altogether. What I mean by retiring is, retiring from my current position,” he said.

“What I really want to do is be in the forefront of game development once again myself.

“Probably working on a smaller project with even younger developers. Or I might be interested in making something that I can make myself, by myself. Something really small.”

Before anyone panics, he is still at Nintendo but will work on smaller games now.

“In other words, I’m not intending to start from things that require a five-year development time,” he revealed.

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