During an earnings conference in Japan, Nintendo president Satoru Iwata revealed that the company’s new console, the Wii U, is set to hit the market during the holidays for EU, US, Japan and Australia.

Looks like the battle for the next-generation of consoles will begin with Nintendo again.

During the Wii U‘s debut at last year’s E3, Nintendo has said that they are targeting a 2012 launch for the console and this is the first confirmation of the company’s target release date and regions.

Fans early awaiting an HD console from Nintendo will only have to wait until this year’ E3 (June 5-7) where Wii U is set to get showcased in more detail — last year we only get to see the exterior of the console and it’s tablet controller.

If rumors about the Wii U are true, the console is set to have twice the power of Xbox 360 although that’s still up in the air until Nintendo officially confirms the console’s specifications.