Japan's Kadokawa shares sink as Sony settles for buying stake, not whole firm

Japan's Kadokawa shares sink as Sony settles for buying stake, not whole firm

FILE PHOTO: The Sony logo is displayed outside the company's headquarters in Tokyo, Japan February 16, 2023. REUTERS/Issei Kato/File Photo

Shares of Japan’s Kadokawa fell by their daily limit on Friday after the media powerhouse behind the “Elden Ring” game announced a capital tie-up with Sony Group instead of a widely anticipated acquisition.

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