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TOKYO (Reuters) - Sony Group said on Thursday it will invest about 50 billion yen ($320 million) to acquire new shares of Kadokawa, raising its stake in the Japanese media powerhouse to around 10% and becoming Kadokawa's top shareholder.
Through the capital alliance, Sony and Kadokawa, which have already worked together on various projects, plan to strengthen their collaboration, such as joint investments in the content field and joint discovery of new creators, they said.
The deal is likely to bolster Sony's entertainment portfolio, which spans games, movies, music and anime, with Kadokawa controlling FromSoftware, which has a track record of well-received games including "Elden Ring".
($1 = 156.9600 yen)
(Reporting by Kiyoshi Takenaka; Editing by Muralikumar Anantharaman)