He joined Nintendo in 2000, and succeeded Hiroshi Yamauchi as the company's president in May 2002. Barron's Magazine named Iwata one of the world's top CEOs, due mostly to the Wii sales, as well as Nintendo's increased stock price. He is the first Nintendo president who is unrelated to the Yamauchi family through blood or marriage.
Nintendo Co., Ltd. is a Japanese multinational consumer electronics company headquartered in Kyoto, Japan. Nintendo is the world's largest video game company by revenue. Founded on September 23, 1889 by Fusajiro Yamauchi, it originally produced handmade hanafuda playing cards. By 1963, the company had tried several small niche businesses, such as cab services and love hotels.
Abandoning previous ventures in favor of toys in the 1960s, Nintendo then developed into a video game company in the 1970s, ultimately becoming one of the most influential in the industry and Japan's third most valuable listed company with a market value of over US$85 billion. Nintendo of America is also the majority owner of the Seattle Mariners Major League Baseball team.