Satoru Iwata, president and CEO of Nintendo, reportedly faces troubling challenges this summer.

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According to Nikkei (and translated by Siliconera ), Iwata is coming upon a "June of trials," as the Nintendo president's approval rating has dropped for the past three years. Nintendo hosts a general shareholder meeting every June, in which the company's investors vote to approve Iwata back on the board of directors. The report states Iwata's approval rating was 92.9 percent in 2011, but that dipped to 77.3 percent last year.In addition, the Nikkei story says that investors are becoming irritated with Nintendo's inability to find new profits. In January, Iwata changed Nintendo's forecasts , saying the company expects a net loss of 25 billion yen instead of a net profit of 55 billion yen. At the same time, the president also slashed the Wii U sales forecast for the fiscal year from 9 million to 2.8 million. "In particular, sales in the [United States] and European markets in which we entered the year-end sales season with a hardware markdown were significantly lower than our original forecasts ...," he said.Because of missed sales forecasts and company underperformance, Iwata reportedly took a 50-percent pay cut earlier this year. But Nikkei implies that the president might not be re-elected come June, in which case his pay cut hasn't satisfied shareholders. Iwata has previously stated that he won't resign, telling investors earlier this year that "there will be no major management shake-up in the short term."Iwata plans to right the ship at Nintendo with new initiatives , such as focusing on the appeal of the Wii U GamePad and introducing a quality-of-life platform in the next year or two. But the question remains, even with the company's reportedly 500 billion yen war chest, how much time the president and CEO has remaining.

Evan Campbell is a freelance news writer who chats about Nintendo games weekly on the NF Show . You can also check out what he's saying on Twitter