Nintendo Names Satoru Iwata CEO of Nintendo America

In a move Nintendo claimed was in the name of "organizational agility in the current competitive environment," company president Satoru Iwata will be made acting CEO of Nintendo America.

The change was announced on Wednesday, along with the decision to move former CEO Tatsumi Kimishima into a new role as managing director of Nintendo Co. Ltd. Reggie Fils-Aime, current COO of Nintendo America, will retain his position.

Earlier on Wednesday, Nintendo revealed its financial report for the past financial year. Though the company's income was under projections, Nintendo managed to avoid the massive losses it posted during the same time one year ago. Nintendo projects to make ¥55 billion ($553 million) during the coming fiscal year.