The Mainichi Shimbun said that the move was aimed to counter rival Sony, which announced earlier this week that it had cut the U.S. price of its unit Sony Computer Entertainment's 32-bit Playstation by 25 percent to $149.
Nintendo officials were not available for comment. But Kaz Hirai, chief operating officer of Sony Computing Entertainment America, said in a statement that Sony was lowering prices to make PlayStation available "to an even broader range of consumers."
Sony also announced sharp price cuts on many of its video game titles. Leading PlayStations titles, such as Crash Bandicoot, Twisted Metal 2, and Cool Boarders, will be offered for a suggested retail price of $50, with many retailers advertising new titles at $40.
Sony also said it will offer a "Greatest Hits" series, which include the most popular titles, for a suggested price of $25.
PlayStation price cuts of 25 to 35 percent were also announced Saturday in Australia, Britain, France, and Germany.
Reuters contributed to this report.