Nintendo Co Ltd has taken a share buyback into consideration as long as a specific need arises, the company's president stated on Wednesday.

"(A buyback) is something that we do take into consideration and may do as the need arises," Satoru Iwata said through an interpreter at an analyst briefing at the E3 video game industry conference in Los Angeles.

He said though that company would not talk about its plans in public.

Mr Iwata also mentioned that Nintendo, whose sales of Wii consoles has beaten the sales of Microsoft Corp and Sony Corp's game console despite slow growth, does not feel the need to replace the Wii.

When asked about the growing sales of Sony's PlayStation 3, he answered, "It is easy to talk about growth when you are working off of a very low base."

"The fact is that when you look at the absolute number for units sold, it is clear that the pace is dramatically better than either of our competitors.

"The absolute level of sales has been widening in our favor."