Nintendo boss taking pay cut due to poor Wii U sales

Nintendo boss Satoru Iwata is to take a 50% pay cut due to the company's financial difficulties.

Mario creator Shigeru Miyamoto and director Genyo Takeda will also take wage reductions of 30%.

Seven other members of the Nintendo board will take a 20% cut.

The news comes a week after Nintendo revealed significantly reduced targets for the coming financial year, mainly due to the Wii U.

The console has struggled to shift units since its 2012 launch, with only 5.86 million sold around the world so far.

In comparison, the PlayStation 4 sold 4.2million units in about six weeks.

Nintendo is hoping upcoming titles such as Super Smash Bros. U and Mario Kart 8 will ignite some interest in the flagging hardware.