Tencent (0700) is in talks to exit its investments in several Japanese game studios, including Tokyo-listed Marvelous as part of a broader reassessment of its global portfolio, Bloomberg reported citing people familiar with the matter.
The Chinese tech giant is evaluating its minority stakes in multiple studios and is prepared to sell shares back to original management teams at a loss in some cases, one of the people said.
one of the criteria for the exit is whether expected synergies with the portfolio companies have diminished, the people added.
Tencent said in a statement that video games remain its core business and the company will continue to work closely with invested enterprises to maintain a strong long-term presence in the Japanese market, according to the report.
A Marvelous spokesperson declined to comment on the report.
Tencent spent about 7 billion yen (HK$340 million) in 2020 to acquire a 20 percent stake in Marvelous, becoming its largest shareholder.
