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Nintendo CEO Does Not Expect Recovery Until Fall

Excitement for new product like the 3DS has cooled, says Iwata. Company considers this a "restart."

Iwata at the Osaka press conference (as covered during NHK's nightly Biz Supo broadcast).

Nintendo CEO Satoru Iwata discussed the effects of the March 11 Tohoku earthquake and tsunami during an earnings press conference in Osaka today.

As reported at NHK, Iwata said that he does not expect game system sales in the Japanese market to recover until at least the Fall.

3DS did not meet expectations for the year, selling 3.61 million units instead of the 4 million Nintendo had forecast. Regarding the 3DS, Iwata said that the earthquake has caused a cooling in excitement for new products. "We believe this to be a restart from zero," he said.

The Osaka press conference was the first of two earnings briefings Nintendo will be holding. The next one will be held in Tokyo on Tuesday afternoon.

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