The classic model is seven continents.
Africa
Antarctica
Asia
Europe
North America
Oceania (Australia)
South America.
The entire land mass of North America and South America are sometimes referred to as the Americas.
What separates Eurasia is the Ural Mountains in Russia, The Caspian Sea and the Bospurus straight and a small mountain range north of turkey and the Red Sea(for Africa at lease). These were natural barriers a few hundred years ago. More modern definitions would probably be based on tectonics or large masses of independently moving land. In which case India and Australia would be one continent and Europe and Asia would be one continent and Arabia would be another and Pacifica would also be a continent. However this is not how it is defined today. Land Bridges exist between all continents and an insignificant gap of water between southeast asia and Australia(At least when sea levels are lower like 100,000 years ago.)
As Ioi defines it there are 3 markets each with a major and significant sector. Japan which is just Japan and Japan alone. America which is at least Canada US and Mexico but maybe also Central and South America(though they could be others). Others which is Europe and Australia the rest of Asia and Africa.
The flags appear to represent the most active region. America is the US with at least 80% sales. Japan is obviously Japan and Others is the EU even though Australia is a large market it is not as large as the EU and if the EU did not exist I would bet that Ioi would have used the British flag(ooops sorry meant UK flag) unless south Africa become a monster Market or if Brazil ever moves past the Megadrive and stops selling Wiis at 600USD a pop there adn the market explodes...Hell if China becomes half the potential market it can be Others may have a red flag up there with a yellow star or maybe a separate tracking region for Asia.
BTW Madagascar is residual break up from the seperation of Australia and Africa when it was part of Pangea(permian) and than Gondwanaland(triassic). North and south America were seperated until about 30 million years ago.
