Not quite. The whole Jaguar thing is a bit of a distraction - something Scot Bayless remembers from a phone conversation early on. Both Nakayama and SOA vice president Shinobu Toyoda have clearly said the 32X came about because SOA thought the Saturn was too expensive and wouldn't be marketable in America early on (this is documented in the Collected Works book). Kalinske was also very vocally against the Saturn as early as 1993, saying he would never sell a $500 console. In the end, the 32X was a compromise. Nakayama insisted that something be released, whether it be an upgraded Genesis or the Saturn or something in-between, and SOA developed the idea for the 32X and worked with Hideki Sato to realize it. SOA liked the 32X because it gave them some form of control on the hardware they were marketing, and Nakayama liked the 32X because it meant he could focus on the Saturn in Japan and let SOA handle the 32X. It's something I've spent some time on. An easy place to start is SOA's official magazine, Sega Visions. Compare ads for games like Gunstar Heroes and Landstalker (hint: there are absolutely none) with Eternal Champions or Jurassic Park. There are a few Japanese games that got advertising after 1993 (not counting Streets of Rage)--mostly Shining Force II and Phantasy Star IV, as I recall. I'm sure there are more, though. But yeah, a lot of the Japanese games that did get published by SOA later in the era just seemed to be shelf fillers to pad the library. If they sold, great, if not, no big loss.