Nintendo president and CEO Satoru Iwata is to take a 50 percent pay cut after claiming the that the blame for poor early 3DS sales lies at his door.
Addressing shareholders in Tokyo today, Iwata said (via Nikkei): "I feel heavily responsible for this kind of announcement we had to make.
"For cuts in fixed salaries, I'm taking a 50 percent cut, other representative directors are taking a 30 percent cut, and other execs are taking a 20 percent cut," he added, according to Kotaku.
Iwata is said to earn roughly $2 million a year and design lead Shigeru Miyamoto $1.2 million.
The decision to slash the price of the 3DS less than six months into its lifetime wasn't part of Nintendo's original strategy, but Iwata said it would help retailers plan for the end-of-year sales period and encourage developers to stick with the platform. The company will now make a loss on every 3DS sold.
Iwata also reiterated that Nintendo doesn't intend to sell its games on non-Nintendo platforms.