Sega dismissed speculation it may be the target of buyers, including Microsoft, as the studio behind Sonic The Hedgehog stressed it intends to remain part of a bigger Japanese entertainment conglomerate.
Sega, whose 60-year-old name is synonymous with the beginnings of the video game industry, maintains a close relationship with Xbox-maker Microsoft, but will remain within Sega Sammy Holdings, co-Chief Operating Officer Shuji Utsumi said.
Sega Sammy’s shares rose to their highest since 2007 this week. Legal filings in the Federal Trade Commission’s suit against Microsoft revealed that the U.S. company considered buying Sega to beef up its Xbox Game Pass subscription service.