Nintendo to boost wages by 10% in Japan

Yahoo Finance Live anchors discuss news that Nintendo will boost wages for its employees in Japan by 10%.

Video transcript

[AUDIO LOGO]

BRAD SMITH: And get those gaming fingers ready. Nintendo boosting salaries amid a tight labor market.

[CLOCK TICKING]

The gaming giant says it plans to raise payment for its workers in Japan by 10% beginning this year. Shares are flat, just barely to the upside for Nintendo as of right now. But thinking about the tight labor market, especially within gaming, this is where they're trying to retain developers, they're trying to make sure that the titles and then the consoles that they continue to put out just attract that fanfare among so many gamers that have a multitude of options out there.

JULIE HYMAN: And by the way, they cut their outlook today, too. So unlike so many of the companies here in the US that are touting their cost-cutting, cost-cutting, cost-cutting, Nintendo here is recognizing that within this tight labor market that they need to hire to grow, which is-- or at least pay more to grow, right? So it's interesting.

BRIAN SOZZI: Did Nintendo confirm that Mario and Luigi getting a pay raised, too? Big fans. I mean, because they could, theoretically, I mean, maybe they jumped on other platforms. I mean, you got to keep employees key, employees happy.

JULIE HYMAN: They literally jumped to other platforms.

BRIAN SOZZI: They literally can jump to other platforms.

JULIE HYMAN: Zing!

BRIAN SOZZI: Yeah.

BRAD SMITH: Yeah.

BRIAN SOZZI: Just creating this stuff in real time.

BRAD SMITH: Hopefully, they got a cut of the movie revenues.

BRIAN SOZZI: Yeah, I'm rooting for them. I hope they get some more money.