Though 4 percent of the studio's shares were owned by its co-founders, an update to its website reveals that Nintendo now has full ownership.
Nintendo president Shuntaro Furukawa earmarked the series as seeing "dramatic sales growth" on the Nintendo Switch compared to other platforms.
Monolith Soft has begun a recruitment drive for its next big RPG, with the studio looking to hire new talent in a number of different disciplines.
"I think that everyone who played this title and the additional stories in the Expansion Pass can imagine what lies in the future for Xenoblade," says director Tetsuya Takahashi.
The action RPG, which is due out exclusively for the Nintendo Switch this July, is quite hefty by the platform's standards.
Yasunori Mitsuda says that one of his new projects is going to be revealed soon. Leaks have previously indicated that Xenoblade Chronicles 3 is in the works.
The sequel was originally slated to release by 2021 end but may have been postponed till the first half of 2022 due to the pandemic.
Melia Antiqua voice actor Jenna Coleman may have let slip that Monolith Soft is currently working on the next game in the series.
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The RPG's Switch version currently doesn't have a confirmed launch date.
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