Nintendo Chief Executive Satoru Iwata died after a long illness, the company said on Monday. He was 55. The CEO and president died on Saturday from a tumor in his bile duct, just as the company expects to double annual operating profit in the year through March thanks to a smartphone gaming tie-up with online game maker DeNA.

Iwata was cautious to bring hus company's games to smartphones and though that the move would cannibalize Nintendo's traditional console base, despite investors' calls for change.

His replacement has not been named, although senior managing director Genyo Takeda will lead the committee for Iwata's funeral, a sign he could be taking on the leadership role.

Iwata had surgery in June last year to remove the growth and had resumed his duties. He attended the company's annual general meeting on June 26.