Minoru Arakawa, President of Nintendo of America Inc. for the past 22 years, today announced the inevitable - it is time for someone else to have a go.

Here's the press release.

REDMOND, Wash.--Jan. 7, 2002--Minoru Arakawa, President of Nintendo of America Inc. (NOA) for the past 22 years, today announced his retirement effective immediately.

After many months of consideration, Arakawa felt the timing was appropriate to turn the office over to new leadership. "The U.S. video game industry is extremely strong and NOA's position within the industry has never been better," said Arakawa. "The recent impressive marketplace successes of both Game Boy Advance and the NINTENDO GAMECUBE coupled with NOA's unparalleled financial and management resources allow me the opportunity to pursue new endeavors."

Nintendo of America Board Member Howard Lincoln, currently CEO of the Seattle Mariners said: "Minoru Arakawa's significant contributions to the success of NOA and the development of the U.S. video game industry are unequaled and widely acclaimed. Many of Arakawa's initiatives have become industry standards, largely responsible for the unprecedented strength of interactive entertainment today."

In a separate announcement made in Kyoto, Japan, Nintendo Co. Ltd., the parent company of NOA, announced Mr. Arakawa would be succeeded by Mr. Tatsumi Kimishima.

Mr. Kimishima has been with NCL for the past two years serving most recently as Chief Financial Officer of The Pokemon Company and President of Pokemon U.S.A., Inc. A native of Japan, Mr. Kimishima spent over 25 years with the Sanwa Bank in several management roles including nearly seven years in New York and California. Mr. Kimishima will assume his new responsibilities effective immediately.

As the worldwide leader and innovator in the creation of interactive entertainment, Nintendo Co. Ltd., of Kyoto, Japan, manufactures and markets hardware and software for its popular home video game systems. The systems include Game Boy(R), Nintendo(R) 64, Game Boy Advance and NINTENDO GAMECUBE. Since the release of its first home video game system in 1983, Nintendo has sold more than 1.4 billion video games worldwide, creating enduring industry icons such as Mario(TM) and Donkey Kong(R) and launching such franchises as Zelda(TM) and Pokemon(R). As a wholly owned subsidiary, Nintendo of America, Inc., based in Redmond, Wash., serves as headquarters for Nintendo's operation in the Western Hemisphere.

Some sad news indeed, this is news that will effect Nintendo's future not just in America, but also throughout the world. Whilst the future is no doubt in safe hands, the coming months (and years) are going to be interesting!

So long Minoru Arakawa, and thanks for the many years of hard work and loyal service. On behalf of the Cube-Europe team, good luck for the future, whatever that might hold!