Not sure if it's been posted yet, lock if old:
More here:
http://online.wsj.com/news/articles/SB10001424052702303465004579325760899958956
In a snap news conference called in Osaka, Nintendo President Satoru Iwata admitted he had misread the markets and hadn't issued "the appropriate instructions.'' He said the company needed to change and "propose something that surprises our customers."
"The way people use their time, their lifestyles, who they arehave changed," Mr. Iwata said. "If we stay in one place, we will become outdated."
Mr. Iwata noted that Nintendo's sales in Japan were better than they were in the U.S. and Europe, and said the company needed a better way of keeping in touch with trends abroad.
"In Japan, I can be my own antenna, but abroad, that doesn't work," he said.
More here:
http://online.wsj.com/news/articles/SB10001424052702303465004579325760899958956