In a recent interview on Part Time Gamers Podcast, a member of the localization team at Nintendo Of America’s Nintendo Treehouse Chris Pranger talked some about why games are so frequently not localized: it often loses money.
'The hardest thing for everyone to understand and to accept — and I’ve seen this first hand in the company, that this is typified — people think that obviously they’re right, and what they like or dislike has to be the norm. Why would it be otherwise? And they just say the classic “Why do you hate money? Why do you hate money, Nintendo?”'