Sony Acquires 10% Stake in Kadokawa for 50 Billion Yen, Becomes Largest Shareholder Amid Stock Fluctuations

Dec 19, 2024, 08:44 AM

Sony Group has officially announced a strategic capital and business alliance with Kadokawa, acquiring an additional 12,054,100 shares for approximately 50 billion yen (over $300 million). This acquisition makes Sony the largest shareholder of Kadokawa, holding about 10% of the company's shares. Despite the acquisition, Sony has stated that it will not increase its stake beyond this level. Kadokawa, known for owning prominent companies such as FromSoftware, the developer of the popular game 'Elden Ring', will collaborate with Sony to expand its intellectual properties. Following the announcement, Kadokawa's stock fell by 15.95% in after-market trading, while Sony's shares rose by 1.54%.