Nintendo has been on the defensive ever since its admitted Wii U would fall disastrously short of its goals. While the company plans on adjusting its business strategy and dipping its toes in the smartphone waters, president Satoru Iwata says that failure is simply part of Nintendo's DNA, and that it will remain an important part of the company's strategy going forward.

"Nintendo has continued to try new things, and with a history of experiencing many failures and small successes, we managed to pioneer the home video game market," Iwata said in a new public letter. "What has remained the same from the past is that we have always tried to create something new from materials and technologies available at that time... We will continue to value self-innovation in line with the times and aim for growth."

Once again, Iwata says that it will continue to focus on the console hardware business--in spite of pleas from some to go third-party. "We believe that we can capitalize the most on our strengths through a hardware-software integrated platform business, and therefore this type of dedicated video game platforms will remain our core focus," he said. "With the belief that the raison d'etre of entertainment is to put smiles on people's faces around the world through products and services, what we have focused on for the last decade is our basic strategy of expanding the gaming population by offering products which can be enjoyed by everyone regardless of age, gender or gaming experience."