On June 26th, Nintendo held their 80th Annual General Meeting of Shareholders, where shareholders were invited to vote on several matters. The first one is the distribution of surplus: the company proposed a divided of 820 Yen / share, and this was approved by the vast majority of shareholders:
- For: 976 691 votes in favour (99.48%)
- Against: 2 053 votes against
- Did not vote: 220
Next, here’s the approval rate for the various Directors, which were all re-elected:
- Shuntaro Furukawa: 937 392 votes in favour (95.47%), 41 324 votes against, 245 did not vote
- Shigeru Miyamoto: 965 332 votes in favour (98.32%), 12 059 votes against, 1 575 did not vote
- Shinya Takahashi: 965 552 votes in favour (98.34%), 11 834 votes against, 1 575 did note vote
- Ko Shiota: 965 559 votes in favour (98.34%), 11 827 votes against, 1 575 did note vote
- Satoru Shibata: 965 553 votes in favour (98.34%), 11 833 votes against, 1 575 did note vote
In comparison, here’s the approval rates from last year:
All Directors saw their approval rate improve, especially Shuntaro Furukawa.
And finally, the official English translation of the Q&A session is now available: click here to check it out!
Here’s the various questions that were asked:
Question 1: Since it currently costs nearly 5 million yen to purchase one minimum trading unit of Nintendo’s stock, making it difficult to invest, we would like you to consider splitting your stock. In addition, what is your stance on the fact that Nintendo is not yet included in the Nikkei225 Index?
Question 2: Nintendo Switch is in short supplydue to the huge success of Animal Crossing: New Horizons. I feel that Nintendo was not able to support this sudden increase in demand, which led to a major opportunity loss. Please tell us about your future plans for handling the production system, sales methods, and predictions for demand.
Question 3: What kind of measures are you currently taking to protect your employees and continue doing business in the face of COVID-19? Has Nintendo implemented a remote work initiative as well? If so, what kind of work are you allowing to be performed remotely?
Question 4: With regard to Clubhouse Games: 51 Worldwide Classicsreleased in June,please tell us about how you are using playing cards, karuta, and other products that were a starting point for Nintendo. In addition, there was talk that an IR (integrated resort) would be built in Japan in the future. Is there a possibility of using Nintendo’s cards in the casino that will be built along with it?
Question 5: My understanding is that you are responding to the shortage of Nintendo Switch consoles by increasing production and holding raffle sales through the My Nintendo Store and at other retailers. However, Nintendo Switch continues to be resold at inflated prices, and I believe that merely increasing production or holding raffle sales is insufficient for supply to catch up to the sudden increase in demand. Specifically, please let us know whether you are discussing measures.
Question 6: I heard reports of a class-action lawsuit filed in the US with regards to malfunctioning Joy-Con controllers. I’ve also heard people point out that the servers used for Nintendo Switch network services go down easily. Isn’t this a concern from a product security and reliability perspective?
Question 7: Could you tell us about the outlook for your next game system? Game hardware has always displayed an image on a TV or other kind of screen while you do something, and I think that’s where the limits for this format are. Would the hardware you’re thinking about go beyond those limits?
Question 8: I’d like to hear about Nintendo’s meticulous focus on game development. Compared to other entertainment like watching movies or tapping on smartphone screens, I feel that dedicated video game platforms have a unique appeal, in that you can enjoy operating the characters via controller and the result of each button press. I’d like to know about your particular detailed focus on enriching the game experience through the use of a controller.
Question 9: I want to ask about operations at SUPER NINTENDO WORLDat Universal Studios Japan, which is scheduled to open ahead of the Tokyo Olympics. In light of COVID-19, have any measures been devised regarding the number of visitors, ways to shorten wait times, and the like?
Question 10: There are no Nintendo Direct announcements usually held together with E3 because the event has been cancelled this year due to COVID-19. In addition, I am concerned as an investor that, at present, there are few software titles with set release dates. I was relieved to hear Director Takahashi say that software titles planned for release this fiscal year have currently not been affected, but I’d like to see some titles announced via a Nintendo Direct soon. Also, as time have changed, I feel it might be a good idea to review the whole process of making announcements using Nintendo Direct.
Question 11: What are your thoughts on the current position of the mobile business? Has your conception of it changed from when the mobile business first started? Also, could you touch on the current partnership with DeNA?