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I think the current belief is that it takes a lot more work to create balance boards than it does to press discs (this is obvious) and Nintendo can't pump out balance boards fast enough to prepare for launch. Now that sales seem down in Japan, maybe Nintendo will be able to stockpile a few million balance boards so they can launch in the US and Europe.

Actually, we don't know Wii fit is in stock in Japan.  It's still selling 70-100k/week.