Microsoft is raising prices on Xbox consoles, controllers, headsets, and some games. The price hike for consoles and accessories kicks in today, May 1, and while game prices will stay the same for now, we should expect to see Xbox charging $79.99 for new, first-party games around the holiday season.
Tbf, Microsoft is an American company that is probably looking for ways to address their own rising expenses. Japan is struggling economically as well, so I imagine Ninty & Sony are looking at international markets to offset their own struggles as well.
One thing that should be noted is Nintendo is roughly the 10th best company in Japan and has billions in reserve cash.