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In Japan:

1. Bury the PSP, Kaz. I understand it's a profit center, but you're now sacrificing long-term sustainability for short-term profit--this is almost never a good business plan, and if the PSP should has taught you anything, PSV can survive on just Japan...if you give it a fighting chance by pulling the plug on its older, well-heeled-but-doddering-and-squandering-the-family-fortune, brother.

2. Get some big names on the system, pronto--2013 for God Eater 2 and Gundam, both of which will be on PSP and PS3 respectively, is *not* the way to go but, well, let's be honest: that's all you really have to work with.

3. Cut the price and make damn sure you schedule your big releases one on top of the other to generate some actual momentum and not propagate the slow, N64-in-Japan, semi-death spiral its in now.

North America:

1. It's over. Pull the plug.

(Really. It's over. There is no coming back from the disaster in NA. The 3DS got there first, and even it's not setting the world on fire--there is no room for a distant second this time and, even if there was, the 3DS is, against the laws of reality, occupying that slot already.)

Europe:

1. I'm an American--what's this Europe thing again?