Nintendo's president speaks to its shareholders about the post-Wii U reveal that saw share prices plummet.

Following their unveiling of the Nintendo Wii U last month Nintendo's shares in Japan plummeted, suggesting there was a lack of faith from investors. Shortly after Satoru Iwata responded to the news and seemed confused while Charlie Scibetta noted that it was typical following a console announcement.

For the first time since the unveiling Satoru Iwata had a chance to address shareholders directly at the Nintendo investor's meeting that took place last week. Discussing the drop in shares Mr. Iwata once again pointed out it is fairly common and happened following the announcement of the DS and Wii. He believes that the market doesn't have confidence in the innovative nature of the Wii U, and draws parallels to the announcement of the Wii.

Mr. Iwata has stated numerous times that the reaction on the showroom floor was different from foreign press, i.e. those who played it against those who did. There seems to have been a more positive reaction from those who actually played the console while anyone unable to attend E3 have been more critical, which Mr. Iwata states shows how those who have played it can appreciate its value:

There seems to be a great difference in understanding between a person who saw the product with their own eyes, experienced the excitement around, touched the product and thought "Wow," and a person who only saw the presentation on the Internet and thought "hmm." From this difference in understanding, people in the stock market responded with, "Wii U doesn't seem innovative" or "I don't think Wii U will sell as well as the Wii," and that caused the decline in the stock price.

Satoru Iwata is also keen to point out that developers have been very interested in the Wii U since they found out about it, with many approaching Nintendo about developing for it. Thus, he feels that E3 was successful and Nintendo must work hard to ensure everyone can understand how much potential and value Wii U has. He tries to reassure investors that Nintendo are astutely aware of the situation and that they shouldn't worry:

I understand from a stock price standpoint that the current situation is not satisfactory and I am also unhappy with the situation as a shareholder that has 5,100 stocks. I sincerely understand that many shareholders are attending this meeting today to express the feeling "Do something." On the other hand, what we should be doing, and my main responsibility is to complete the development of the good value of Wii U, which has been appreciated by those who have had hands-on experience, launch the product next year and make it a product that sells even better than the Wii.