They would also get Relic and Creative Assembly (makers of Age of Empires IV and Halo Wars 2 respectively), but like you say there is no way SEGA Sammy sells those studios and IPs because they make a lot of money. The only realistic option would be to buy the entire company if they were ever willing to sell.
Yeah, Horizon Chase was awesome! The Senna Forever DLC was even better than the base game, IMO. I'm hopeful that Epic will be funding similar games from them.
I know what treasury shares are, I just don't believe succumbing to pure growth driven investor voting is the inevitable fate here, there are other mechanisms for staff to protect their interests. Which is why the makeup of Nintendo's actual ownership is key and the abundance of cross-holders (and again, Abe's regulations against this was the reason for their bank buyback, not bouncing back the sharevalue which was sharply rising anyway) is what you need to be taking a real look at.
Foreign institutions and individuals are the majority shareholders (of the free float). Japanese business partners are minority shareholders. Employees are also minority shareholders. The current structure protects them from foreign buyers but if Toyota or SoftBank wanted to buy Nintendo, the deal would go through. Board would have no reason to reject an offer with an appropriate premium, that’s their fiduciary duty.
Public float includes the Japanese cross holders which aren't singularly pursuing a cashout and I don't believe the majority of total shares are actually held outside Japan. Many Japanese pension/retirement funds also hold Nintendo because they routinely give relatively high dividends being debt free and cash rich (near 4% per share). Again, the mindset for holders isn't as singular as you seem to think, even with foreign investors like the Public Investment Fund's aims with their Nintendo investment aren't about immediate wealth generation (they already have more of that than they know what to do with). You think it would auto pass because a premium offer would basically have to, I'm telling you that's not necessarily the prevailing investor mindset. And this is before employees really exert influence, if the business plan isn't also appealing they'll kill any merger.
Mitsubishi might be even a better partner than Toyota but eventually, we are just talking about who is a better fit to marry Tom Cruise: Donald Duck or Mickey Mouse.
PIF job is to diverse the wealth of Saudi Arabia and provide ROI. Like any fund, the key metric is IRR, which is an annual return metric. Ofcourse, like any investor, they want a return in the shortest time frame. Same applies for most of their institutional investors. Whether they are foreign or domestic. Board members are aware that their job and legal duty is to maximise shareholder value. One of the reasons they have independent board directors is to ensure they are held to that duty.
Who has even close to enough money to buy Nintendo? If Activision is a 69-billion-dollar acquisition, then Nintendo is over 140 billion. Maybe much more. The value of the company is not even measurable at this point. You may as well be asking who had enough money to buy Disney at the height of Frozen and Marvels peak.
Nintendo has for decades had the strategy of not buying the companies that make their games. Game Freak, HAL, Intelligent Systems, etc. I don't know if I can say if they see them selves strong enough in their output or not, but I don't believe they think acquisition of other developers is the inherent solution to that problem.
A lot of publishers in Japan have at least one major IP like that, where they don't own the rights in full and/or the talent is separate from the company, and it's often the most lucrative ones that are like that. Often enough that it feels like it's by design. Nintendo is by far the most guilty of this.
No, "like any investor" is an assumption you're making. The PIF's aim is diversification but it's a long term growth strategy and there are likely other motivations at play here (Prince's personal interests, whitewashing the crown's image, etc). And this is just one example, again your assumption on an immediate yes is a superficial one based on whatever's the biggest short term ROI and ignores the complexities of these investors (indeed Nintendo's not a stock likely to draw investors chasing a quick flip in the first place). I'm telling you, don't be so sure with many of these holders.
www.ft.com
Looks like I ruffled your feathers for pointing out some basic facts about corporate governance because I dared to mention your favourite company.
Yeah, Tencent has not been that aggressive for quite some time. But with Microsoft coming out after ABK, the situation has changed as companies now more aware about regulatory behavior.Tencent accelerates investment in overseas gaming studios
Chinese tech group targets European assets as it seeks to diversify away from domestic market
He's not wrong about it being a shower thought. Having gone back and read the Media Create thread, you only brought it up as seemingly a way to deflect conversation about Sony's failure in Japan. "They've done everything they can, why not just buy Nintendo?" As Ktslime said:
You say this, but how does an M&A that everyone seems to acknowledge will fail generate shareholder value, as you say is Nintendo’s obligation? Acquisition targets rarely ever come out of a failed M&A with a better share price than when they started (the acquirer isn’t out of the woods, either). So… if Sony would recognize that it’s the longest of long shots as to not be worth entertaining, as would Nintendo, there is no shareholder value to be gained in moving forward with such an idea on either side of such a proposed transaction. So even on the premise of corporate governance as you say, it’s antithetical to it. The very basis of your persistence in this discussion does not stand up to the tiniest bit of scrutiny.
I sort of doubt it, the M&A Strategies at SIE and MSG seem pretty divergent and not so directly related.
They wouldn’t. If it’s a cash/debt deal, the premium would be pretty standard. That said,
