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UPDATE 12/12/2024: Sony has now confirmed its interest in acquiring Kadokawa.
"It is true that we have made an initial statement of intent," said Sony in a report from Yahoo Japan (via IGN). "We would appreciate it if you would allow us to refrain from further comment."
This means both sides have now acknowledged the possible acquisition, though no further details are currently known.
ORIGINAL STORY 11/12/2024: Employees at FromSoftware owner Kadokawa are reportedly optimistic about a potential buyout from Sony due to frustration with current management.
Kadokawa suffered a ransomware cyberattack earlier this year, but employees were left disappointed by the response from current president and CEO Takeshi Natsuno.
As a result, employees are said to be "thrilled at the prospect of an acquisition by Sony", according to a new report from Japanese outlet Bunshun (via Automaton).
"The people around me are thrilled at the prospect of an acquisition by Sony," a veteran Kadokawa employee told Bunshun.
"That's because there's a certain number of employees who are dissatisfied with the Natsuno administration, which didn't even bother to hold a press conference after peoples' personal information was leaked in the cyberattack. They expect that if Sony were to acquire the company, they would get rid of the president first."
The cyberattack against Kadokawa included video streaming platform NicoNico, as well as personal employee information as part of 1.5 terabytes of stolen data.
Former chairman Tsuguhiko Kadokawa - part of the company's founding family - was reportedly "surprised, but appeared positive" about a Sony acquisition, according to a Bunshun source at the company.
Kadokawa himself resigned from the company in October 2022 following allegations of bribing an official of the Tokyo Olympic Games. Kadokawa denied the charges.
Conversely, economic analyst Takahiro Suzuki told Bunshun Kadokawa had little to gain from the acquisition. "Kadokawa will lose its independence, and management will become stricter," he said. "If they want to keep developing their business as freely as they have until now, [the acquisition] would be a bad choice. They'd have to be prepared for publications that don't lead to IP creation being put under scrutiny."
News of Sony possibly acquiring Kadokawa emerged from a Reuters report last month. The following day, Kadokawa acknowledged the takeover interest from Sony.
"The Company has received an initial letter of intent to acquire the Company's shares, but no decision has been made at this time," said Kadokawa at the time.
Still, the news has in part led to a sharp increase in Sony's stock value in Japan, which is currently the highest since 2000. As the Wall Street Journal reported, stock value has been on the rise for the past month following strong financial results from Sony and its profitable game segment.
As for what's next from FromSoftware, president Hidetaki Miyazaki stated a sequel to Elden Ring is not in development, but the company does have multiple projects in the works.
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www.eurogamer.net
"It is true that we have made an initial statement of intent," said Sony in a report from Yahoo Japan (via IGN). "We would appreciate it if you would allow us to refrain from further comment."
This means both sides have now acknowledged the possible acquisition, though no further details are currently known.
ORIGINAL STORY 11/12/2024: Employees at FromSoftware owner Kadokawa are reportedly optimistic about a potential buyout from Sony due to frustration with current management.
Kadokawa suffered a ransomware cyberattack earlier this year, but employees were left disappointed by the response from current president and CEO Takeshi Natsuno.
As a result, employees are said to be "thrilled at the prospect of an acquisition by Sony", according to a new report from Japanese outlet Bunshun (via Automaton).
"The people around me are thrilled at the prospect of an acquisition by Sony," a veteran Kadokawa employee told Bunshun.
"That's because there's a certain number of employees who are dissatisfied with the Natsuno administration, which didn't even bother to hold a press conference after peoples' personal information was leaked in the cyberattack. They expect that if Sony were to acquire the company, they would get rid of the president first."
The cyberattack against Kadokawa included video streaming platform NicoNico, as well as personal employee information as part of 1.5 terabytes of stolen data.
Former chairman Tsuguhiko Kadokawa - part of the company's founding family - was reportedly "surprised, but appeared positive" about a Sony acquisition, according to a Bunshun source at the company.
Kadokawa himself resigned from the company in October 2022 following allegations of bribing an official of the Tokyo Olympic Games. Kadokawa denied the charges.
Conversely, economic analyst Takahiro Suzuki told Bunshun Kadokawa had little to gain from the acquisition. "Kadokawa will lose its independence, and management will become stricter," he said. "If they want to keep developing their business as freely as they have until now, [the acquisition] would be a bad choice. They'd have to be prepared for publications that don't lead to IP creation being put under scrutiny."
News of Sony possibly acquiring Kadokawa emerged from a Reuters report last month. The following day, Kadokawa acknowledged the takeover interest from Sony.
"The Company has received an initial letter of intent to acquire the Company's shares, but no decision has been made at this time," said Kadokawa at the time.
Still, the news has in part led to a sharp increase in Sony's stock value in Japan, which is currently the highest since 2000. As the Wall Street Journal reported, stock value has been on the rise for the past month following strong financial results from Sony and its profitable game segment.
As for what's next from FromSoftware, president Hidetaki Miyazaki stated a sequel to Elden Ring is not in development, but the company does have multiple projects in the works.
Employees at FromSoftware owner Kadokawa reportedly "thrilled" about possible Sony takeover
UPDATE 12/12/2024: Sony has now confirmed its interest in acquiring Kadokawa.
www.eurogamer.net
