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Is Microsoft Looking to Acquire Game Studios in Japan? What the Reports Say

A report in 2020 alleged Microsoft approached unnamed Japanese game developers. Xbox’s response and later partnerships point to a more limited conclusion than a confirmed acquisition plan.
From TheFinanceBase Team3 min to read
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A November 2020 report said Microsoft had approached several Japan-based game developers about possible purchases, but Xbox head Phil Spencer publicly questioned the report’s accuracy. The studios were never named in the cited coverage, and it does not establish a new 2026 acquisition effort.

What did the 2020 report claim?

On November 9, 2020, Game Developer relayed a Bloomberg report that several Japan-based developers—from small studios to larger companies—had told Bloomberg that Microsoft approached them about buying their businesses. The developers were anonymous, and the article named no targets. It gave no count of studios, proposed terms, or confirmed outcome. Game Developer’s report

That account is evidence of a reported claim, not confirmation that Microsoft made formal offers or reached agreements. The cited sources do not establish whether private conversations took place.

How did Xbox respond?

Asked about the Bloomberg report in a GameSpot interview published in November 2020, Xbox head Phil Spencer said: “I don’t think so. I say, I don’t think so… I mean, I’m not in every meeting that every team has.” He later said, “I think that’s not accurate.” His answer disputed the report while acknowledging he could not speak to every team’s meetings; it was not an absolute denial covering every possible conversation. GameSpot’s interview

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Game Developer also quoted Microsoft director of game operations in Asia Jeremy Hinton saying Microsoft was always open to discussions with creators it believed were a good fit. That general statement does not verify the specific approaches described in the 2020 report.

Which Japanese studios did Microsoft approach?

The 2020 article did not identify any. It said the developers had requested anonymity and supplied no number of companies. As a result, no particular studio can be identified as a confirmed target of those reported approaches.

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How do the other Microsoft-Japan examples differ?

Several separate events are sometimes folded into the same acquisition narrative, but they describe different kinds of evidence and activity:

Example What the cited source establishes What it does not establish
Anonymous report, November 2020 Game Developer attributed to Bloomberg a claim that several unnamed Japan-based developers said Microsoft approached them about buying their businesses. Game Developer It does not name targets, disclose terms, confirm formal offers, or establish a completed transaction.
Potential targets considered in 2019, reported in 2023 Bloomberg Law reported that documents in the U.S. Federal Trade Commission’s case over Microsoft’s Activision Blizzard acquisition showed Microsoft had considered acquiring Square Enix as recently as 2019 and had also looked at Sega and Bungie. Bloomberg Law Consideration of possible targets is not evidence of an approach, offer, agreement, or completed deal, and it does not identify the developers in the separate 2020 report.
ZeniMax acquisition, announced in 2020 Microsoft’s announcement of its ZeniMax acquisition included Tango Gameworks among the studios. Microsoft’s announcement It does not show that Tango was one of the unnamed studios in the 2020 approach report.
KOJIMA PRODUCTIONS partnership, September 2026 Xbox announced an expanded partnership with KOJIMA PRODUCTIONS to publish PHYSINT, describing collaboration on the game and beyond. Xbox’s announcement The announcement describes a publishing partnership, not an acquisition or change of ownership.

Does current Xbox portfolio news show a Japan acquisition plan?

No. Xbox’s September 2026 organizational update discussed restructuring and portfolio changes: it said Compulsion Games and Double Fine returned to independent management in August, and described ongoing consultation concerning Arkane and a proposed closure of Ninja Theory after agreements fell through. It did not announce an acquisition effort in Japan. Xbox’s organizational update

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Microsoft Investor Relations maintains a dated acquisition-history page for announced corporate transactions. Such a list can help check public announcements, but it cannot establish whether private, unannounced discussions occurred.

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What can be concluded?

The available account supports a narrow conclusion: Bloomberg reporting relayed in November 2020 described anonymous developers who said Microsoft had approached them, while Spencer publicly questioned the report’s accuracy. The cited sources do not name any of those developers or confirm an outcome, and the separate 2026 Kojima announcement concerns publishing rather than ownership. They do not establish that Microsoft is currently seeking to acquire game studios in Japan.

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