The death of Nintendo CEO Satoru Iwata on July 11 unleashed a rare outpouring of emotion in Japan¡¯s normally impassive tech world, and deservedly so. Iwata had many accomplishments at Nintendo ¡ª including the development of the Wii console, the DS handheld player and the Rockefeller Center retail store ¡ª but his legacy transcends them. He personified much of what¡¯s right and wrong about corporate Japan in the increasingly dynamic global economy.
The Yamauchi family that founded Nintendo took a calculated risk in naming Iwata the company¡¯s first non-family CEO in 2002, a relatively fallow time for the company. Replacing Hiroshi Yamauchi (a man known for inflexibility and a volatile temper), Iwata quickly led Nintendo back to ascendancy, helping oversee a tripling of revenue.
By 2009, Nintendo was posting $4.5 billion in operating profit as revenue hit $15 billion. The company shipped more than 100 million units of the Wii alone, making it the world¡¯s best-selling console. For a time, Nintendo seemed to be enjoying a revival of its 1980s heyday.
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