Tokyo Stock Exchange issues alert about Sony acquisition of Kadokawa being “unclear information”
The Tokyo Stock Exchange (TSE) has issued an alert to investors regarding Sony Group’s reportedly ongoing acquisition talks with Kadokawa. The reason given for the alert is: “Unclear information regarding acquisition has arisen.”
News that Sony is trying to buy FromSoftware’s parent company Kadokawa broke on November 19, with Reuters reporting that a deal could be made within weeks. This has, unsurprisingly, had a big impact on the market, with Kadokawa’s shares skyrocketing yesterday and today, and Bandai Namco’s stock price taking a significant dive. It appears movements caused by the rumor were big enough to prompt a warning from the TSE.
The TSE puts out such alerts when rumors, leaks and other forms of unclear information deemed likely to have material impact on investment decisions become public. The last such alert was issued in June this year, when reports of Japan’s digital comics platform Infocom being bought by the US’s Blackstone surfaced.
