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Konami acquires Japanese development studio Hudson

Tue 12 Apr 2005 11:54am GMT / 7:54am EDT / 4:54am PDT

In a statement issued on its Japanese website, publishing and development giant Konami has announced its decision to purchase 3 million new shares in Hudson Soft, giving it a majority shareholding in the ailing developer.

In a statement issued on its Japanese website, publishing and development giant Konami has announced its decision to purchase 3 million new shares in Hudson Soft, giving it a majority shareholding in the ailing developer.

The move will make Hudson into a subsidiary of Konami, who will oversee reorganisation plans within the company.

Hudson Soft co-founder Hiroshi Kudo resigned from the company last November after reports predicted a loss of 7.3 billion yen ($69 million) for the financial year ending March 31 2005.

The developer approached Konami for assistance, who responded by accepting a third party allotment of 3 million new shares at a cost of 1.43 billion yen ($13.26 million) - raising its ownership percentage from 45% to 54%.

The company "expects its acquisition of additional shares will strengthen Hudson's net worth and will support and enhance its organisation."

Hudson Soft employs 530 staff and is best known for creating the highly successful Bomberman series. The developer also recently produced Rengoku: Tower of Purgatory for the PSP. Nintendo owns a 1.23% share in the company.

Konami also owns significant stakes in other Japanese development studios including Atlus and Takara.

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