“The late Hiroshi Yamauchi, at that time the president of Nintendo Co., Ltd., agreed to spend his own money to purchase the majority ownership of the team in order to show Nintendo’s appreciation to the U.S. for helping Nintendo do business in the country, and to contribute to the local residents and area. “Then Mr. Satoru Iwata, who had been overseeing the team as the new president of Nintendo after Mr. Yamauchi, as well serving as the CEO of Nintendo of America, passed away last year. Nintendo yesterday announced that its next console, the Nintendo NX, will be launching in March 2017.