Just came through on the wire, expect public stories soon. Pretty nuts.
Here are the specifics:
The entire board is taking pay reductions from the period of Feb until June. Iwata is taking a 50% reduction as the company president. The two other representative directors, Genyo Takeda and Shigeru Miyamoto, will be taking a 30% reduction. All remaining directors on the board will take a 20% reduction. These include Tatsumi Kimishima, Kaoru Takemura, Shigeyuki Takahashi, Satoshi Yamato, Susumu Tanaka, Shinya Takahashi, and Hirokazu Shinshi.
Iwata says that beyond June, they will decide based on the business environment at that time.