Major video game maker Nintendo Co. has purchased a 2.6 percent stake in toy maker Bandai Co., or 1.28 million shares, becoming one of its top 10 shareholders, Bandai said Wednesday.
Bandai President Takeo Takasu told a news conference Nintendo did not make the purchase for a future takeover or a capital tieup.
The Nihon Keizai Shimbun reported last weekend that Nintendo bought some of the shares from major U.S. toy company Mattel Inc.
Bandai and Mattel tied up in a marketing alliance in 2000, and the U.S. firm reportedly owned 2.06 million Bandai shares as of the end of March. But the two companies have ended the alliance.