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Japanese gaming firm Genda Inc is acquiring a 78.05% stake in leading Tokyo-based buyer and producer Gaga Corp.
Genda is acquiring the shares from Gaga president and CEO Tom Yoda’s own company T.Y. Limited, with the deal scheduled to go through on November 30, 2023.
Yoda will retain the remaining 21.95% stake as well as the position of Gaga chairman. All other Gaga executive appointments remain unchanged.
Genda chairman Nao Kataoka and CCO Yuzo Sato will have seats on the Gaga board, with the latter executive serving as Gaga president and CEO.
Gaga was founded in 1986 and Yoda’s T.Y. Limited took a majority stake in 2009. Under his management, the company has emerged as one of the world’s leading indie film distributors, handling a wide range of international titles, and has also expanded its local production slate.
The company has distributed seven Oscar Best Picture winners, including Coda and Everything Everywhere All At Once, and four Palme d’Or winners including Shoplifters and Anatomy Of A Fall.
In a statement, Gaga said it is currently pushing forward a multi-portfolio strategy, which involves international film distribution, local film and anime production, international sales, international co-production, and game and character businesses derived from anime “through omni-directional windows including digital platform”.
Genda is a holding company with several entertainment businesses, including 260 amusement arcades, mainly under the ‘GiGO’ brand, as well as amusement machine leasing, online games, sales promotions and character licensing.
“Mr. Kataoka of Genda and I have established a close relationship since he became President and Representative Director of Aeon Entertainment in 2017,” said Yoda.
“Exchanging business ideas and strategies, he seems to be inspired by my long-time experiences and networks in the entertainment business, including music, film, game, character, broadcast and manga. Having perfectly-matched vision and values, we are very excited to work with Genda to generate synergies for both companies.”
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