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Sony Music Japan to Buy GungHo Shares as Companies Plan Game Partnership

The planned purchase of 12,006,500 shares would make SME GungHo’s largest shareholder, subject to regulatory approval.

Cover image for Sony Music Japan to Buy GungHo Shares as Companies Plan Game Partnership

GungHo announced a capital and business alliance with Sony Music Entertainment Japan on Friday. SME plans to acquire shares for 28,635,502,500 yen, with completion targeted by December 30.

GungHo Online Entertainment announced Friday that it will enter a capital and business alliance with Sony Music Entertainment Japan (SME). SME will buy GungHo shares through an off-market bilateral transaction for 28,635,502,500 yen (about US$179,347,387).

Under a share transfer agreement signed Friday, SME will acquire 12,006,500 GungHo shares from SON Financial LLC. The companies aim to complete the purchase by December 30.

Subject to regulatory approvals, the deal will make SME GungHo’s largest shareholder and an affiliated company of GungHo Online Entertainment. GungHo plans to retain independent management as a publicly listed company on the Tokyo Stock Exchange Prime Market.

The business partnership’s details remain undecided. The companies will explore jointly developing and operating smartphone, console and PC games operated and distributed by GungHo Games. They will also consider new game projects, including those using SME Group intellectual property.

Kazuya Sakai became GungHo’s CEO, President and Representative Director on February 1, succeeding Kazuki Morishita, who stepped down from those positions that day. Sakai previously served as CFO, Director and Executive General Manager of the Finance Accounting Division.

GungHo is known for the puzzle game Puzzle & Dragons and hosts Ragnarok Online’s Japanese MMORPG server. Its other game work includes:

  • TEPPEN
  • Ninjala
  • Disney Pixel RPG

SME established its game publishing label UNTIES in October 2017.

Sources: GungHo Online Entertainment 's website ( link 2 ) via Gematsu via ANN

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