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My guess is its a device for senior citizens. Japan has a massive senior population and Miyamoto himself now is technically a senior, I can see him wanting to develop something like this.

What specifically that would be, I have no idea, but I'd guess something that keeps seniors busy/active for an hour or two a day. Probably with excersices that engage them mentally and physically. 

If that is the idea, it actually might take off, there's tons of companies doing fitness/lifestyle products but not too many doing things specifically for seniors.