TOKYO (AP) — Nintendo’s annual profit surged 52% in the last fiscal year, lifted by solid sales of its Switch 2 machines and software. The Japanese video-game company behind the Super Mario and Pokemon franchises announced it was raising prices, citing challenging business conditions. It recorded a 424 billion yen ($2.7 billion) net profit for the fiscal year that ended in March, up from nearly 279 billion yen the year before. Annual sales rose 99% to 2.3 trillion yen ($15 billion) from 1.2 trillion yen a year earlier, as demand for Switch 2 held up, although sales for the first-generation Switch declined. Nintendo said it was raising the Switch 2 price in Japan to 59,980 yen ($382), effective May 25, from 49,980 yen ($318), “in light of changes in market conditions, and after considering the global business outlook.” In the U.S., the price will rise to $499.99 in September, from $449.99. Nintendo, which is based in the ancient Japanese capital of Kyoto, did not go into details.…