Panasonic stake purchase
Kadoma, Osaka, Japan
On 25 September 2013, Nintendo announced it had purchased a 28% stake in a Panasonic spin-off company called PUX Corporation. The company specializes in face and voice recognition technology, with which Nintendo intends to improve the usability of future game systems. Nintendo has also worked with this company in the past to create character recognition software for a Nintendo DS touchscreen. After announcing a 30% dive in profits for the April to December 2013 period, president Satoru Iwata announced he would take a 50% pay-cut, with other executives seeing reductions by 20%–30%.