Nintendo has confirmed it will be launching the Wii U Virtual Console after its Spring update for gamers that want to enjoy games from previous consoles on the latest console.
"We are going to improve it," said Iwata. "In two stages. One in spring, and again Summer.
The two system updates promises to improve software load times as well as getting users back to the Wii U menu faster.
The new Nintendo Virtual Console service, launched right after the Spring update, will bring Nintendo Entertainment System and Super NES consoles to the Wii U, although Nintendo has confirmed that not all games will be available from day one.
The service will give users the ability to save a back-up of your game progress, play off-TV on the Wii U GamePad and access the Miiverse community.
The service will also offer Game Boy Advance games said Satoru Iwata, Nintendo's president, for the first time.
Games will cost £3.49 for NES titles and £5.49 for SNES games. Users who have already bought versions of the Wii virtual console games will be able to transfer them across from their Wii for a special price of 99p and £1.49 respectively.
As a special one off, for a month, Nintendo will celebrate the 30th anniversary of Family Computer (family Com), with games available to buy for 30 cents, but only for a limited time - 30 days between now and July. The titles will be available to buy before the virtual console is actually available. Games include Super Metroid and Mario & Yoshi.
Nintendo has also said that it will be performing a second update in the Summer to resolve some system issues that are still present after the initial update at launch.
There is also plans to expand the Wii U Miiverse experience including support for seeing your Miiverse from your smartphone.
It is the first time Nintendo has dabbed in providing further information on other platforms as far as we can remember.
Nintendo has also confirmed that video on-demand services will be launching in European countries, as well as promising to bring the Wii U On-Demand service to Europe.
On the games front that aren't retro, Nintendo is promising new games like Wii U fit, as well as new Mario and Mario Kart games.
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