FromSoftware parent Kadokawa confirms Sony has sent it a ‘letter of intent’ to acquire it

FromSoftware parent company Kadokawa has confirmed that it has received a letter of intent from Sony to acquire the company.

Earlier this week it was reported by Reuters, citing two sources familiar with the situation, that talks between Sony and Kadokawa are ongoing.

Now, a  statement from Kadokawa reads, “There are some articles on the acquisition of Kadokawa Corporation (hereinafter “the Company”) by Sony Group Inc,

“However, this information is not announced by the Company. The Company has received an initial letter of intent to acquire the Company’s shares, but no decision has been made at this time. If there are any facts that should be announced in the future, we will make an announcement in a timely and appropriate manner.”

Kadokawa owns a majority share in FromSoftware, as well as several anime production houses.

Kadokawa also owns Dwango, a Japanese telecoms and media company that owns developer Spike Chunsoft (most recently responsible for Dragon Ball: Sparking! Zero).

Earlier this year, it also bought Acquire, the Tokyo studio known in recent years for Octopath Traveler, Octopath Traveler II, and Mario & Luigi: Brothership.

Kadokawa’s share price shot up earlier this week as a result of Sony acquisition reports, closing at an increase of 23% to reach their all-time highest value.