How to remove personal data from Wii U?

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I've got a Wii U that I never use. It's mere presence taunts me by reminding me of my poor purchasing decisions. If I want to remove all my personal details from it including save games and eShop details before I sell it, do I need to do anything apart from formatting it via the System menu?
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Quick Answer about "How to remove personal data from Wii U?"
How do you delete personal data on Wii U?
Complete the steps:Do I need to wipe my Wii before selling?
It is recommended that you remove the Wii Shop Channel information first then format the system memory if you are transferring ownership or selling your Wii console. Otherwise, the new owner will have access to your personal Wii Shop account and purchases.How do I delete everything off my Wii?
Basically, you go to the third page of settings of your Wii and then select 'Format Wii System Memory'. Then press 'Format' and TA-DA! Warm note: after you reset it all the data will POOF gone. You can't restore it.Nintendo Wii U Factory Reset Guide, How to Delete Everything and Start Over, a Comprehensive How-To.
Sources: Stack Exchange - This article follows the attribution requirements of Stack Exchange and is licensed under CC BY-SA 3.0.
Images: Skylar Kang, Ketut Subiyanto, Ketut Subiyanto, Skylar Kang