Sony decided to invest in Kadokawa rather than acquiring it.
Sony and Kadokawa will work together in joint discovery of new creators
Photo Credit: Reuters
Sony Group said on Thursday it will invest about JPY 50 billion ($320 million or roughly Rs. 2,722 crore) to acquire new shares of Kadokawa, raising its stake in the Japanese media powerhouse to around 10 percent and becoming Kadokawa's top shareholder.
Through the capital alliance, Sony and Kadokawa, which have already worked together on various projects, plan to strengthen their collaboration, such as joint investments in the content field and joint discovery of new creators, they said.
The deal is likely to bolster Sony's entertainment portfolio, which spans games, movies, music and anime, with Kadokawa controlling FromSoftware, which has a track record of well-received games including "Elden Ring".
© Thomson Reuters 2024
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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