I agree that Sony most likely couldn't be acquired by a foreign corporation, because they also have a deep hand in supplying various Japanese governmental organizations, research firms, medical fields etc. with equipment and supplies, not to mention their involvement in the financial market (their financing division).
Nintendo, though? I get that they dominate the Japanese non-mobile portable gaming market, and they're a huge company, but they're also purely a gaming company. IIRC, while Japan has protectionary rules for corporations involved in "key sectors" from being acquired by foreign corporations (mainly via hostile takeovers), gaming isn't one of those "key sectors" IIRC. So it would make companies like Nintendo potentially exempt and open for acquisition by a foreign corporation.
Or I could be wrong and just their sheer size even in a market like gaming would make them a special case. But for other, much smaller Japanese gaming publishers, they could definitely be acquired by foreign corporations (particularly Western ones) as long as regulations are followed and everything clears. Japan does make it a bit harder for foreign companies to do such a thing, but it's nowhere near uncommon.
That said I do think Nintendo would be a specific exemption, considering their ecosystem supports so many other publishers & developers in the region. And Sony of course are exempted because of their involvement in markets that fall under defined "key sectors". They probably couldn't even be acquired by another Japanese corporation, though they could probably enter a merger with one.
Which, push come to shove, they would most likely opt for that. At one point Matsushita was even bigger than Sony, but not anymore. Hitachi is the 2nd biggest; considering their previous work with CPUs and other semiconductor designs, they could be a viable merger off into the future.
Well if some people didn't try downplaying Activision-Blizzard's non-COD mobile output as being essentially "nothingburgers" in total revenue, or saying they had no presence on mobile at all when they factually do, then they wouldn't get responses proving them wrong
I agree that there are people who now have a fetish for acquisitions, and it's probably weird, and it's always best to just assess things based on what's happened instead of what some do in theorizing more acquisitions like a game of fantasy football.
However, if the same few people keep insisting the deal "won't go through" based on supposed evidence that amounts to nothing, have been shown multiple times why their insistence of the deal being "successfully challenged" is wrong, and continue to double-down anyway, then it's pretty clear they just simply don't want the deal to go through, probably due to very nonsensical reasons.
What the FTC is doing is a formal process; it's normal. Anyone trying to make it out as something "more than usual" to suggest the deal might get blocked are playing themselves. Investigations can always bring a deal to a pause that otherwise resumes and the acquisition goes through anyway. That just happened not long ago with Sony's acquisition of Crunchyroll; it was being investigated (as per normal), then got stopped. I'm sure Sony's people, Crunchyroll's people and the investigating body (dunno if it was the FTC or DOJ) discussed a few things, probably made some slight alterations, and then the investigation was concluded and the deal went through anyway.
Some people literally still view every Microsoft acquisition as some immoral event to be turned into a circus event at the courts, all stemming from a single event dating back decades under a way different management. Almost every reason most people gave to seriously imply the Zenimax acquisition would not pass, or are doing now to suggest similar with the Activision-Blizzard one, comes from perceptions painted from that one trail back at the turn of the century. That's their only real leverage, and it hasn't been relevant to modern-day Microsoft for over two decades.
You do realize that $500 million in revenue is absolutely not a "pittance", though, right? That's still way more than the majority of publishers on consoles see for all their releases combined in the entire year.
Even a company the size of Activision-Blizzard is
always going to notice $500 million missing. There's no downplaying that.