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Sunday, 11/14/2021 10:57:12 AM

Sunday, November 14, 2021 10:57:12 AM

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Tencent Holdings Limited (TCEHY) Acquires Stake In Japanese Creative Studio For $44M
By: Benzinga | November 11, 2021

• Tencent Holdings Ltd (OTC: TCEHY) had tacitly acquired a 90% stake in Japanese creative studio Wake Up Interactive Ltd for over 5 billion yen ($44 million) in September, Bloomberg reports.

• The studio has several Nintendo Co Ltd (OTC: NTDOY) Nintendo Switch hit games.

• Wake Up owns Tokyo-based Soleil Ltd, which developed Nintendo Switch hit Ninjala and helped create Travis Strikes Again: No More Heroes. Soleil is known for producing high-quality action games for consoles, PCs, and smartphones.

• Tencent and NetEase Inc (NASDAQ: NTES) hired fresh talent in Japan over the past two years to acquire valuable intellectual property in anime and video games and decrease their revenue dependence on the domestic China market.

• In October, Kadokawa Corp (OTC: KDKWF) admitted Tencent plans to pay 30 billion yen for a 6.86% stake in the publishing company.

• The two Chinese game titans have also acquired or taken a stake in numerous smaller Japan-based game developers.

• Their focus has been on small studios and talented individuals contemplating leaving a more prominent company to set up their creative operation. In most cases, the deals are kept secret from the public over competitive grounds.

Price Action: TCEHY shares traded lower by 0.29% at $61.66 in the premarket session on the last check Thursday.

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