The award is quite prestigious, and has only been handed out on rare occasions. Previous recipients of the award include Ken Kutaragi (aka the father of PlayStation), as well as Nintendo of America Chiefs, Howard Lincoln and Minoru Arakawa. This is the first time the accolade will be awarded posthumously.
Satoru Iwata passed away in July 2015, following treatment for cancer. During his life, he became an influential figure in the video game industry. He led Nintendo in its most successful period, seeing the creation of the DS and Wii, as well as the 3DS and Wii U.
A Lifetime Achievement Award itself is a separate accolade to the DICE awards annual Hall of Fame entrant, who this year will be Metal Gear Solid creator Hideo Kojima. The ceremony will be held on February 18.