Polygon Magazine (you might remember them as XenGamers) has a knack for finding interviews in the Japanese newspapers, translating them, and posting them to their website. Well, they've found one with former Nintendo Co., Ltd. president Hiroshi Yamauchi.

Yamauchi talks about the Famicom, industry pressure, Nintendo's future plans, and the PSP, as you can see below:

Question: What are your thoughts on Sony's recent announcement regarding plans to develop a portable game machine - PSP?

Yamauchi-san: Sony's PSP isn't expected to hit the market until late 2004, and there's still many unknown details about it. There have been analysts who think Nintendo has a monopoly over the handheld market and Sony maybe able to break it - I don't think they understand the game business. New product competition in this industry is important. Although Nintendo's core business is software, having another hardware developer will allow us to judge the superority or inferority of our machine. But software for both machines will be much different, and it would be a mistake to consider them in direct competition.

To read the rest, do yourself a favor and head over to Polygon Magazine's website.