http://online.wsj.com/news/articles/SB10001424052702303465004579325760899958956

In a snap news conference called in Osaka, Nintendo President Satoru Iwata admitted he had misread the markets and hadn't issued "the appropriate instructions.'' He said the company needed to change and "propose something that surprises our customers."

"The way people use their time, their lifestyles, who they are—have changed," Mr. Iwata said. "If we stay in one place, we will become outdated."

- I think this is a clear acknowledgement from Nintendo that cell phones/tablets have changed people's lives when it comes to how they get their entertainment and Nintendo can no longer deny it. 

"I hate to say this, but Nintendo is out of touch," said Yoshihisa Toyosaki, president of Tokyo-based IT consultancy Architect Grand Design Inc. "It has a chance to change course, but I doubt it's going to take it."

Still, Mr. Iwata noted that Nintendo's sales in Japan were better than they were in the U.S. and Europe, and said the company needed a better way of keeping in touch with trends abroad.

"In Japan, I can be my own antenna, but abroad, that doesn't work," he said.

- Pretty interesting that Iwata finally acknowledges that he isn't very good at navigating the Western market. Should he really be president of NOA if this is the case? Or will we see a real change? Lots of skepticism on Nintendo from investment consultants, lol.

It's what I've said for a while ... Iwata is pretty good at reading the Japanese market but is far out of touch with the Western markets.

Sounds like from the article Iwata will be taking a pay cut once again this year. 

Iwata always says a lot of things but I don't think he ever means what he says either. Really, what he is saying is obvious and he can keep repeating the same thing over and over if the Nintendo continues having bad financial reports.

So don't take what he says so seriously, unless he is saying something in the Nintendo Direct.

What's eye-raising?

Has he ever acknowledged Nintendo being wildly out of touch before? I think this is a first. He sounds pretty serial to me.

Yeah he seems to be more candid about his statements. Usually he just makes excuses or tries to change the subject.

Talk of changing business structure and acknowledgement that the market has changed and Nintendo is out of touch is really a first. Also specifically stating that he doesn't understand the Western market as well as the Japanese market is fairly eye raising after he promoted himself to president of NOA just a few months ago, lol. 

I think for better or worse this the beginning of a new chapter in Nintendo's history and this one will probably be very different. 

Nothing eye raising... but what does where does it lead?

Those words sound like things people want to hear and not something that he truly believes.

Someones slow... People have been saying this for a while now...

He's just trying to placate shareholders, he has no intention of seriously investing in mobile development.