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Activist investor Oasis Management Company has acquired a 8.86% in Japanese media powerhouse Kadokawa, parent company of Elden Ring developer FromSoftware, according to Gamebiz and Automaton.
This is a big enough stake to potentially enable the investor to influence Kadokawa’s operations. Back in 2014, Oasis encouraged Nintendo to pivot towards developing free-to-play mobile games, saying: “Just think of paying 99 cents just to get Mario to jump a little higher.”
An activist investor is an individual or company that aims to purchase a significant minority stake in other companies so that they can influence how they are operated or managed, usually with the aim of bolstering shareholder returns.
So what’s the attraction of Kadokawa? The Kadokawa Group contains a large number of subsidiaries dealing with publishing, anime, movies and games (plus other industries). These include Dark Souls and Elden Ring developer FromSoftware, as well as videogame publisher Spike Chunsoft, which is owned by its Dwango subsidiary. It’s also a major manga publisher, and popular anime produced by Kadokawa include Oshi no ko, Re: Zero, and Delicious in Dungeon, among many others.
With so many IPs and diverse businesses, Kadokawa is a hot property. Back in late 2024, it
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