In his stead, Shuntaro Furukawa will become the new president of the company.
"Possible concerns are foreign exchange losses or the impact of additional tariffs in the USA imposed by President (Donald) Trump as Nintendo produces hardware in China", he said. The reason for this renewed success is of course the Switch.
Nintendo has reported a strong return to growth following a better than expected reception for its new Switch console, which has now been out for a year, selling 15.1 million units - more than Nintendo expected.
Nintendo's Investor Report has just come out and within it are some great bits of news and information. The next step is attracting buyers from beyond the console's core base. The company increased its dividend to JPY 590 per share from JPY 430 a year ago and projected a further increase to JPY 690 in fiscal 2019.
The key thing here is that management is getting younger. "They will have to execute the Switch's growth plan, so in that sense this is a new start". Kimishima had been looking for some time to retire and "pass the baton" on to a younger generation.
The company said it was appointing Furukawa to replace Kimishima, who is retiring.
While Iwata was a public face of the company - often hosting Nintendo Direct streams and interviews with game developers - Kimishima worked away from the public eye. He grew up playing with the Family Computer, or Famicom, which was sold in Japan during the 1980s. In addition, Nintendo revealed that digital sales for the Switch proved 'very good, ' while pint-sized retro console SNES Classic 'proved to be a hit in every region'. Furukawa-san, who you can see on the left in the image above, has promised to bring out the company's full potential while balancing Nintendo's traditions of being both original and flexible.
If that wasn't impressive enough, the Big N has managed to flog 68.97 million software units during the same period. "He is fluent in English".