Sony is now Kadokawa's largest shareholder

Media and Entertainment
Source : (remove) : Video Games Chronicle
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Thu, December 19, 2024

[ Thu, Dec 19th 2024 ]: Video Games Chronicle

Sony is now Kadokawa's largest shareholder

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Published in Media and Entertainment on Thursday, December 19th 2024 at 6:04 GMT by Video Games Chronicle
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Sony president Hiroki Totoki said "Through this capital and business alliance, we will become the largest shareholder of Kadokawa, which consistently creates a wide variety of IP, including publications and books, such as light novels and comics, as well as games and anime.

Sony has become the largest shareholder of Kadokawa Corporation, a major Japanese media conglomerate, by increasing its stake to 6.06% through its subsidiary Sony Financial Group. This move was part of a third-party allotment of shares, which also saw Kadokawa issuing new shares to other investors like Sumitomo Mitsui Trust Holdings and Mizuho Bank. The investment aims to strengthen Kadokawa's financial base and support its growth strategy, particularly in expanding its IP and global reach. Sony's increased involvement is seen as a strategic move to bolster its presence in the entertainment industry, especially in content creation and distribution, aligning with Kadokawa's ambitions in the global market.

Read the Full Video Games Chronicle Article at:
[ https://www.videogameschronicle.com/news/sony-is-now-kadokawas-largest-shareholder/ ]