Nintendo is seeing an early win ahead of its biggest launch this year, with shares rising Thursday after the company reported stronger than expected demand for the Switch 2 in Japan.

The successor to the massively popular Switch console is set to launch globally on 5 June, but excitement is already building. Company president Shuntaro Furukawa revealed that pre-orders for the new console in Japan have reached 2.2 million applications, far exceeding initial forecasts.

Furukawa noted in an X post that the high volume of pre-orders would likely result in many customers missing out when winners of the lottery system are announced. He expressed apologies, citing limited supply for the release date.

Following the announcement, Nintendo’s stock jumped as much as 5.5 percent on Thursday, a sign that investors are responding positively to the early demand.

Despite branching into theme parks and successful film projects, Nintendo remains heavily reliant on its console business. Industry experts estimate that around 90 percent of the company’s revenue is still driven by the Switch ecosystem.

The Switch 2 follows the hybrid format of its predecessor, offering both handheld and TV-connected play. But this time, it comes with a higher price tag. The U.S. version will retail at $449.99, while a domestic version in Japan is priced at 49,980 yen or roughly $350.

Analysts say rising production costs and global trade conditions are likely to keep prices steady for the foreseeable future. Nintendo had earlier delayed pre-orders in the U.S. as it reviewed the impact of tariffs under former U.S. President Donald Trump.

With high anticipation and record-setting pre-orders, the Switch 2 is shaping up to be one of Nintendo’s most critical product releases in recent years.