The Wall Street Journal's Ben Fritz reported last month that Netflix was "in the early stages of developing a live-action series based on 'Zelda,'" according to the Journal's source. In a piece published on Time today, Nintendo CEO Satoru Iwata called the Journal's report incorrect.

"As of now, I have nothing new to share with you in regard to the use of our IPs for any TV shows or films, but I can at least confirm that the article in question is not based on correct information," Iwata told Time, referring to the Wall Street Journal report. It's notable that Iwata doesn't deny a Zelda TV series or a partnership with Netflix, only that the source of the information in the report was not correct.

Last year, during a financial briefing outlining the company's strategy for short-, mid- and long-term plans, Iwata said that while Nintendo has taken a "passive approach toward the character IP licensing business," that would be changing. "We will actively expand our character licensing business, including proactively finding appropriate partners," Iwata said.

Later that year, in a 2014 fiscal year briefing, he said, "We are not at a stage where we can share the specifics with you today, but we are seeing possibilities in licensing character IP in areas Nintendo has never worked before. I expect to be able to discuss some of the details before the end of this calendar year."

Partnering with Netflix — the company behind critically lauded series like House of Cards and Orange is the New Black, as well as upcoming series based on Marvel properties Daredevil, Jessica Jones, Luke Cage and Iron Fist — would appear to be a winning move for a Nintendo eager to expand the reach of its intellectual properties.

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