Nintendo president Satoru Iwata recently held a state of the union with Japanese newspaper Nikkei (via Andriasang) for the company's performance in its home country. Mario Kart 7, which launched on December 1, has done quite well. In its first week on retail shelves, the game sold a whopping 420,000 copies, almost double the first-week performance sales of Mario Kart DS back in 2005. And, according to Iwata, the game did even better abroad, though we kinda already knew that.

Despite suffering through a lackluster launch, Nintendo's latest handheld is set to reach the three million sold mark two weeks faster than the original DS did, Iwata said. Thanks, price cut! He expects the 3DS to hit four million before its one year anniversary on February 26.

This article was originally published on Joystiq.