btw was looking into their annual report from last year and they list 29 subsidiaries and 5 associates:
In the field of home entertainment, Nintendo Co., Ltd. and its subsidiaries and associates (composed of 29 subsidiaries
and five associates as of March 31, 2023),
Development
Nintendo Co., Ltd.; Nintendo Technology Development Inc.; Nintendo Software Technology Corporation; Retro
Studios, Inc.; Next Level Games Inc.; Nintendo European Research and Development SAS; iQue (China) Ltd.; ND
CUBE Co., Ltd.; 1-UP Studio Inc.; MONOLITH SOFTWARE INC.; Mario Club Co., Ltd.; SRD Co., Ltd.; Nintendo
Pictures Co., Ltd.
- Manufacture
Nintendo Co., Ltd.
- Sales
Nintendo Co., Ltd.; Nintendo of America Inc.; Nintendo of Canada Ltd.; Nintendo of Europe GmbH; Nintendo France
S.A.R.L.; Nintendo Benelux B.V.; Nintendo Ibérica, S.A.; Nintendo RU LLC.; Nintendo Australia Pty Limited;
Nintendo of Korea Co., Ltd.; Nintendo (Hong Kong) Limited; Nintendo Sales Co., Ltd.
There's only 23 listed here so I wonder which are the other 6, outside of the other 2 associates as tpc, warpstar and pux are the ones they refer to