Nintendo issued an official statement, according to IGN, saying that he miscommunicated his intentions and priorities, and is actually not officially stepping down:
"Video game designer Shigeru Miyamoto's role at Nintendo is not changing. He will continue to be a driving force in Nintendo's development efforts. In discussing his priorities at Nintendo in a media interview, Mr. Miyamoto explained how he is encouraging the younger developers at the company to take more initiative and responsibility for developing software. He attempted to convey his priorities moving forward, inclusive of overseeing all video game development and ensuring the quality of all products. Mr. Miyamoto also discussed his desire to pursue fresh ideas and experiences of the kind that sparked his initial interest in video games."