Paper bombs are a garbage attack to use. Sakura with no incredible durability was able to withstand one [
You must be registered for see links
]. Kisame, who's durability should be hailed will scoff at the attack. Samehada isn't slipping out of his hand nor will the paper make it to him. Konan uses chakra to manipulate the papers, meaning once in range of Samehada Konan's manipulation will fade.
Against a plethora of opponents, Kisame is going to turn the terrain into something that suits him. Flooding the battle field, the only true threat becomes Mei with Suiton capable of rivaling his. But with the use of Great Shark Bullet, a chakra absorbing attack. It's all null and void. With the use of both Mizu Bunshin, water formed sharks, and his own summoning. Kisame has them out numbered here, actually. They're going to be out maneuvered once in Kisame's lake. Some might manage to make it out, but Temari, Chiyo, and Sakura are dead by the end of this. They haven't shown the ability to withstand this type of onslaught.
Leaving only Tsunade, Mei, and Konan. Konan, as I said earlier, is useless. Tsunade's not making it into close range against Kisame nor is Katsuyu going to do much. The ability to avoid the acid is not a unique nor rare speed trait. It has little to no speed feats. Mei's only threat is her Lava at this point, which can be stalemated with a large enough Suiton jutsu. Forcing the lava to form a crust over it and harden. Like lava does when meeting water.
Once fused, if Kisame decides he needs it, all he requires is a touch to defeat any and every opponent here. Their chakra will be gone. But it's not. Kisame can just continue to expand his lake to supply him with a large arena to attack his opponents from.
How does Kisame lose, again?