Nintendo and mobile company DeNA form alliance, will make apps featuring Nintendo IP

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Soundwave said:

Also it should be clarified that Nintendo isn't merely "farming out" their IP to DeNA. This is not a licensing deal in that sense. 

They will be jointly developed games, Iwata cited for example that the games need to be of high quality but that in the smartphone market you can't just "finish" a game and release it, you need to continually add content to it (bleh ... microtransactions).

Likely what I think will happen here is Nintendo will design the core engines/gameplay mechanics to ensure good quality and then DeNA will largely be responsible for making sure the games have additional content added to them as time goes on.

Yes. In fact, Iwata clarify that Nintendo will be in charge to develop the interface (game) that will interact with the consumer, while DeNa will be in charge of the server and online parts.