Sony Acquires 12 Million Shares for 50 Billion Yen, Securing 10% Stake in Kadokawa

Dec 19, 2024, 09:36 AM

Sony Group has officially announced a strategic capital and business alliance with Kadokawa, acquiring approximately 12 million new shares for about 50 billion yen (approximately $318 million). This move raises Sony's stake in Kadokawa to around 10%, making it the largest shareholder of the Japanese media company, which owns FromSoftware, the studio behind popular titles such as Elden Ring and Dark Souls. The partnership aims to enhance collaboration on Kadokawa's intellectual properties, potentially expanding into film, television, and anime production. Following this announcement, Kadokawa's stock fell by 15.95% in after-market trading, while Sony's shares increased by 1.54%.