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Nintendo no longer have any 1st or 2nd party studios in Europe. However, the only European studio I can think of that Nintendo could buy is perhaps Headstrong (Battalion Wars, HotD: Overkill). Even though they are already a 2nd party, Nintendo could buy Next Level (Mario Football, Luigi's Mansion 2, Punch Out Wii) and make them 1st party. I wouldn't mind Nintendo saving Tales studio (mainline Tales games) from Namco-Bandai, the precedent being set several years ago with Monolith, hopefully that would also help secure Tales releases here in Europe if Monolith is anything to go by. Arika (Street Fighter EX, 3D Classics: Excitebike, Endless Ocean) is another that springs to mind and so does Monster (Excitebots, Excitetruck).