Konami set to increase stake in toy firm Takara

Japanese toy maker Takara Co. said Thursday that it will issue new shares for allotment to game software developer Konami Co., making the leading game software maker its top shareholder.

In an alliance aimed at mutually making use of their respective animation characters and software, Konami will acquire 8.43 million Takara shares at 400 yen each through a third-party allotment scheduled for July 31, thus becoming its largest shareholder with a 22.8 percent stake, Takara said.

Takara will use the fresh funds for the development of new characters and new projects in the information-related area.

The two makers also plan to jointly develop new products, share distribution channels and jointly develop new business areas based on information technology, the firms said.