Nintendo shares surged Thursday after the gaming giant boasted of higher than expected demand in Japan for pre-orders of its hotly anticipated Switch 2 console.The successor to the Switch — the third best-selling console ever behind Sony’s PlayStation 2 and the Nintendo DS — is set to hit shelves worldwide on June 5.And the stakes are high: although Nintendo is diversifying into theme parks and hit movies, analysts say around 90 percent of its revenue comes from the Switch business.An X post attributed to company president Shuntaro Furukawa published Wednesday said there had been 2.2 million pre-order applications for the new console in Japan.This is an “extremely high” number which “greatly exceeds our initial expectations”, the post said.”It also significantly exceeds the quantity of Switch 2 consoles” that can be delivered on the release date.”Therefore, it is expected that a considerable number of customers will not win the lottery when the winners are announced” on Thursday, for which “we deeply apologise”.Shares in the Kyoto-based company gained as much as 5.5 percent on Thursday following the bullish announcement.Nintendo in early April revealed details about the Switch 2, which like its predecessor is a hybrid console that can be used on the go or connected to a TV screen.However the price has raised eyebrows at over a third more than the original Switch in major markets including the United States, where it will cost $449.99.A Japanese-only version for domestic consumers will be cheaper at 49,980 yen ($350).”Uncertainty around reciprocal tariffs, global trade and higher component costs” mean a price drop is unlikely within the next five years, industry research firm Niko Partners said earlier this month.Nintendo delayed pre-orders for the Switch 2 in the United States by several weeks as it assessed the fallout from US President Donald Trump’s trade levies.