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There’s no need for Nintendo to buy other studios. Microsoft is literally playing catch up because they lack compelling software/exclusives for their platform. Nintendo first party team and partners have been solid since the dawn of time lol.

Here’s the deal. Nintendo is currently in the process of expanding their ips to other media. (films/TVs and theme parks). Nintendo already has a portfolio of iconic characters and games. The next step is to expand not in video games but elsewhere.
Sony and Microsoft will follow suit in the future just like they did with internal studios and directs lol.