Sony Music Japan to buy 23.29% of GungHo for $182.5 million

Sony Music Entertainment Japan plans to become GungHo Online Entertainment's largest shareholder through a $182.5 million stake purchase while GungHo remains independently listed.

Sony Music Entertainment Japan has agreed to acquire 12,006,500 shares in Puzzle & Dragons developer GungHo Online Entertainment for about $182.5 million. The 23.29% stake would make Sony Music Entertainment GungHo's largest shareholder, subject to regulatory approval and an expected December closing.

The companies plan to explore joint development and operation of mobile, console and PC games, promotional collaborations and projects using intellectual property from Sony Music affiliates. GungHo is expected to remain an independent public company. The structure gives both sides room to cooperate across games, music and entertainment IP without a full acquisition.