Nintendo president Satoru Iwata will take a 50% pay cut from February until June, in light of Nintendo’s poor performance the past year, reports Japanese publication Nikkei.

Other members of the board, Iwata said to reporters, will be taking pay cuts as well. The two representative directors of Nintendo, Shigeru Miyamoto and Genyo Takeda, will take a 30% pay cut, while other board members will take a 20% pay cut.

After the five-month period, decisions regarding these pay cuts will be taken depending on the state of Nintendo’s business at the time. Tomorrow, January 30th, Nintendo will discuss its strategy for its games business going forward.