Softbank Mobile to increase GungHo stake for $265m

Softbank Mobile to increase GungHo stake for $265m

Fiona Chau  |   March 26, 2013
Softbank Mobile and NTT DoCoMo are stepping up their efforts in the booming mobile gaming market.
In an announcement released on Monday, Softbank Mobile said it will launch a tender offer to increase its stake in GungHo Online Entertainment.
SoftBank will spend as much as 25 billion yen ($265 million) to buy 6.4% GungHo shares from Asian Groove, which is run by Taizo Son - who is the chairman at GungHo and the brother of Softbank CEO Masayoshi Son.
The mobile carrier plans to increase its stake in GungHo in April this year, after GungHo conduct a 10-for-1 share split.
After the acquisition, Softbank’s in GungHo, including an 18.5% stake held by Softbank CEO Masayoshi Son, will increase to 58.5% from the current 33.6%. As a result of the consolidation, GungHo will become a Softbank consolidated subsidiary.
Meanwhile rival DoCoMo is expanding its mobile gaming service into China market by offering a localized version of its “d game” gaming service via the Mobile Market app store operated by China Mobile.
DoCoMo said this is the first time for the company to offer its “d game” mobile content service under the DoCoMo brand outside of Japan.
Mobile Market’s “d game” service will start with 20 titles, including non-game content such as wallpapers. DoCoMo will add additional content to the gaming service in future and work with D2C China, its joint venture in China, on content localization, the company added.
Fiona Chau
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