Not that any future mergers are off the table, mind.
As a part of its recent Corporate Management Policy Briefing for FY2025, Nintendo has reiterated its stance on mergers and acquisitions. Namely, while future acquisitions are never off the table, it would rather "organically expand the organisation".
This, the briefing note claimed, is so that new staff members to Nintendo can "fully learn and understand our creative culture" — as opposed to splitting things across too many studios, we'd imagine.
Read the full article on nintendolife.com