Update | Nintendo of Korea & Shareholder Discussions

Japanese website Nintendo Inside has just confirmed that a meeting did indeed just take place today in Japan. Apparently it was a general shareholders meeting in Kyoto, with areas for the Wii to be experienced in (games such as Wii Sports, a Duck Hunt shooting style title and WarioWare: Smooth Moves were on show, all seemingly confirmed for a 2006 release).

According to reports stemming from Reuters, shareholders rejected a company proposal that would allow the board to make major decisions on the timing and size of dividends without their prior approval. This is the first time Nintendo shareholders have actually gone against a company proposal.

A Nintendo spokesperson went on record to state:

"The proposed change was intended to give Nintendo's board a bit more autonomy, so that dividends can be paid out quickly without waiting for approval at a general shareholders' meeting. But apparently we could not win enough understanding from shareholders."

Currently, Nintendo's shares are 0.5 percent at 19,070 yen from the late afternoon there (Japan is nine hours ahead of British time).

Elsewhere, the company has confirmed that Nintendo of Korea will be set up on 7th July in order to focus on that particular market for the first time. Products were previously sold in that territory via Daiwon, similar to how Nintendo sells its hardware and software through iQue in China. The head office will be in South Korea's capital city Seoul and the starting capital will be 25,000,000,000 won (it is roughly 2,000 won to the Pound, so ~