- Sony’s stocks in Japan just recently reached a new high.
- This sudden increase is likely caused due to Sony’s current buyout negotiations with Kadokawa.
- That said, it is the first time in 24 years that the company’s share rose by this much, hinting that the final decision is close.
Recently, rumors were swirling around that Sony is trying to buy Kadokawa, the parent company of one of the best developers, FromSoftware. Kadokawa itself confirmed the rumors, stating that it has received a letter from Sony confirming its intent for a buyout.
While the decision is yet to be made, Sony’s stocks have just reached a new high in Japan for the first time in 24 years, thanks to the negotiations of the acquisition.
Why it matters: Sony has been trying to establish its dominance in Japan for a very long time now, and buying Kadokawa would change a lot of things.
As you can see in the image, its shares reached over 6k yen in 2000. However, shortly after, it went downhill and didn’t manage to bounce back again. It never even reached the 3k target, that is, before the rumors of the acquisition.
Now that the parent company of FromSoftware has confirmed that negotiations are in place, Sony’s stock price has increased significantly in Japan. It is likely to rise even more as the deal is likely to go through.
While fans are infuriated over this, it might not be as bad as they are thinking. Sony acquiring Kadokawa can give FromSoftware the rights to Bloodborne and Demon Souls so fans might finally see the long-awaited remake or remaster of the former.
Not much is known about the acquisition as of now, but Kadokawa has ensured that its fandom will be informed about the decision as soon as it is finalized. The sudden rise in the shares does hint that the deal is likely to be closed pretty soon.
What do you think about Sony acquiring Kadokawa? Do you think acquiring the Japanese giant will give it a strong footing in Japan? Share your thoughts with us in the comments section below, or join the discussion on the official Tech4Gamers forums.
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[News Editor]
Obaid is pursuing a Law degree while working as a content writer. He has worked as a gaming writer for over three years because of his passion for the medium and reporting the latest updates in the industry. Having played hundreds of games, Obaid finds himself coming back to Elden Ring, Cyberpunk 2077, and Red Dead Redemption 2, with these games being among his favorites. He has also been mentioned on highly regarded websites, such as Wccftech, Metro UK, PS Lifestyle, GamePressure, VGC, and Gamespot.
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