Shares in Japanese games maker Marvelous Inc were untraded with a glut of buy orders on Tuesday and looked set to close up at the daily trading limit of 17% after announcing China's Tencent Holdings Ltd would take a 20% stake.
FILE PHOTO: People visit Tencent's booth at the World 5G Exhibition in Beijing, China, Nov. 22, 2019. REUTERS/Jason Lee
Tencent will spend around 7 billion yen acquiring shares from Marvelous and its largest shareholders, Amuse Capital and its chief executive, Hayao Nakayama, a former Sega executive whose son founded Marvelous, for 576 yen each. The investment is the latest example of an influx of Chinese money and gaming content into Japan, where a largely unconsolidated industry underpinning the country’s pop culture is having to compete with well-resourced overseas rivals.
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