Tencent Subsidiary Becomes Game Developer, Publisher Marvelous' Primary Shareholder
posted on by Rafael Antonio Pineda
Game developer and publisher Marvelous, Inc. and Chinese company Tencent Holdings Limited both revealed on Tuesday that Tencent, through its Hong Kong-based Image Frame Investment subsidiary, has acquired 8.6 million of new shares in Marvelous for 4.9 billion yen (about US$45.47 million), along with 708,600 of primary shareholder Hayao Nakayama's shares and 2.83 million of Amuse Capital's shares for 2 billion yen (about US$18.55 million). Image Frame Investment will own 20% of Marvelous' shares after the investment, to become the company's primary shareholder.
While Hayao Nakayama has lost 3.83% of his stake in the company, the combined shares of his shares and his son Haruki Nakayama's shares, as well as the shares of the family-owned Amuse Capital and Amuse Capital Investment companies in Marvelous still amount to over 33% of the ownership of the company.
Haruki Nakayama founded the Marvelous Entertainment company in 1997. The company merged with AQ Interactive in 2011 to become Marvelous AQL, and later Marvelous, Inc. Haruki Nakayama served as Chairman, President, and CEO until he stepped down in June 2019 to rest and recuperate. Then-Vice Chairman Shuichi Matoda took over as Chairman.