Every study on this topic has shown that piracy in fact increases the sales of content in the long run. Personally, I only discovered Dragon Quest, Fire Emblem and many other games that I've later spent big money on because I pirated the older games in the series.
Piracy is a service problem, not a people problem. If the services are there, piracy disappears (See the massive decline in torrenting following the rise of Netflix and Steam). Companies have nothing but themselves to blame. Like Nintendo, if they actually offered a decent service that allowed access to their older games, very few people would pirate them anymore; they don't so people (including myself )do.