Sony acquired Bandia Namco shares for around JPY 68 billion (roughly Rs. 4,010 crore)
Sony last year invested in FromSoftware parent Kadokawa
Photo Credit: Reuters
Sony and Bandai Namco have signed a strategic agreement that will see the PlayStation parent acquire a 2.5 percent stake in the Elden Ring publisher, the two companies announced Thursday. Sony will pay approximately JPY 68 billion (roughly Rs. 4,010 crore) to buy 16 million Bandai Namco shares. The partnership between the two Japanese companies will focus on fields of anime and manga and create “new experiences” that “maximise the value of IP”.
In a press release, Sony and Bandai Namco said the “strategic business alliance agreement” would focus on strengthening engagement in the anime field, merchandising, and more.
“Bandai Namco and Sony have historically collaborated on various projects in the fields such as games, anime and music, and they plan to extend this collaboration to a broader range of areas,” the firms said in the statement. “The two companies intend to implement initiatives including the expansion of works as well as products and services based on IP developed by Bandai Namco, leveraging Sony's strengths in areas such as the production and distribution of anime and other video content, as well as merchandising.”
Sony and Bandai Namco will discuss developing anime and manga IP and collaborating on “experiential entertainment”. The two companies said they will also work together in the areas of fan engagement, joint investments, and developing and operating entertainment-related technologies and services.
“Through this partnership, we aim to co-create an array of content and experiences that exceed expectations and deliver Kando (emotion) to even more fans, alongside Bandai Namco Group, with its outstanding capacity for multidirectional expansion of diverse IP and deep connections with fans at real touchpoints, both domestically and internationally,” Sony's Chief Strategy Officer Toshimoto Mitomo said.
Last year, Sony acquired new shares of FromSoftware parent Kadokawa for JPY 50 billion ($320 million or roughly Rs. 2,722 crore), raising its stake in the company to around 10 percent. The PlayStation parent is now the largest shareholder in the publishing firm.
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