In a recent report, it has been made clear by Nintendo Co that there is no truth in report surrounding volunteer exit of the world's most influential games designer, Shigeru Miyamoto, from Nintendo.

There were some media reports which claimed that the 59-year-old creator of popular games franchises had said that he would soon hang his boots to make way for young talent. Confirming the same, a spokeswoman for Nintendo came out to assert that there must be some sort of confusion to what he man behind designing of Super Mario Bros and The Legend of Zelda had actually quoted.

"He has no intention of stepping down. Please do not be concerned", said the spokeswoman, while clearing the air about the media report. In response to the news, it was seen that shares of the company dropped by 2% to 11,040 yen on Thursday, whereas the Nikkei average fell by 0.7%.

It has been known that Miyamoto has huge role to play in the success of the company which is ruling games industry for years, thereby offering its Wii consoles and DS handheld devices to millions of users. If experts are to be believed, company would be under huge lose in case they could not retain Miyamoto. There was a flow of messages on social media networking sites where many had expressed their shock over the news of his retirement.

"Inside our office, I've been recently declaring, 'I'm going to retire, I'm going to retire", as per the Wired. com website.

It has been known that the company's new generation 3DS device could not do well in the market in February against the tough competition posed by smartphones and tablets. Even the world economy is facing such tough time with euro zone debt crisis taking toll over countries and looming threat of recession making things more difficult.