KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
Key Takeaway: Sony is in talks to acquire Kadokawa, the Japanese media giant behind Elden Ring, as part of its strategy to expand its entertainment portfolio.
Sony is reportedly negotiating to acquire Kadokawa, the company behind the critically acclaimed Elden Ring game, according to sources familiar with the matter. If successful, the deal could be finalized within weeks.
Highlights:
- Kadokawa’s Shares Surge: Shares closed 23% higher, reaching their daily limit, with a market capitalization of $2.7 billion (RM12 billion) prior to the report.
- Sony’s Stake: Sony already holds a 2% stake in Kadokawa and an interest in its subsidiary FromSoftware, the developer of Elden Ring.
- Elden Ring’s Success: The game, a collaboration between Hidetaka Miyazaki and George RR Martin, has sold 25 million units, with its expansion selling 5 million units in just three days after launch.
Kadokawa’s Broader Reach
Founded in 1945 as a publisher, Kadokawa has evolved into a media powerhouse, producing anime, games, events, and figures. Notable franchises include:
- Re
- Delicious in Dungeon, a manga adapted into anime.
Sony’s Vision for IP Growth
- Sony, known for its transition from electronics to entertainment and technology, views intellectual property (IP) as a long-term investment.
- CEO Kenichiro Yoshida highlighted the longevity of “loveable characters and IP,” which can endure for decades.
Strategic Moves
- Sony has capitalized on anime's global growth, fueled by streaming platforms and rising global interest in Japanese culture.
- Successful adaptations include The Last of Us, which became a hit HBO drama.
Challenges Facing Kadokawa
- In 2022, Kadokawa’s chairman resigned after bribery charges linked to the Tokyo Olympics.
- Earlier this year, a cyberattack resulted in a significant data breach, disrupting operations.
Sony’s potential acquisition of Kadokawa aligns with its strategy to strengthen its entertainment division and capitalize on IP-driven growth, further cementing its position as a global media leader.
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