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Tencent Raises Its Reported Stake in Kadokawa, FromSoftware’s Parent

March 2025 reports said Tencent increased its Kadokawa stake to 7.97% through Sixjoy. That is a parent-company holding, not a reported new purchase of FromSoftware shares.
From TheFinanceBase Team2 min to read
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Tencent reportedly increased its stake in KADOKAWA Corporation from 6.86% to 7.97% in March 2025, a rise of 1.11 percentage points through its subsidiary Sixjoy Hong Kong Limited. The purchase was reported as a buy of Kadokawa shares—not a newly disclosed purchase of FromSoftware shares—and the percentage alone does not establish a change in control of the game studio.

What Tencent reportedly bought

March 2025 reports by IT之家 and AUTOMATON WEST, both attributing the information to Nikkei, said Tencent’s Kadokawa stake rose from 6.86% to 7.97% through Sixjoy Hong Kong Limited. IT之家 described the increase as 1.11 percentage points. These figures are reported information; the cited coverage does not itself provide a primary 2025 transaction filing documenting the purchase. IT之家’s report and AUTOMATON WEST’s report give the contemporaneous account.

The 6.86% figure has an earlier corporate basis: Kadokawa’s October 2021 announcement said Sixjoy would subscribe for newly issued Kadokawa shares as part of a capital and business alliance with Tencent Group, leaving Sixjoy with a 6.86% stake. That announcement also described cooperation in anime, games, and global media-mix activity; it does not establish the terms or motivation behind the later reported 2025 purchase. Kadokawa’s 2021 announcement

Did Tencent buy more of FromSoftware?

Not according to the March 2025 reports. They describe a rise in Tencent’s stake in Kadokawa, FromSoftware’s parent company. Kadokawa’s 2022 disclosure identifies FromSoftware as a consolidated subsidiary and Sixjoy as a Tencent subsidiary, but a parent-company share purchase is not the same thing as a direct purchase of additional FromSoftware shares. Kadokawa’s 2022 disclosure

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FromSoftware separately disclosed a direct ownership split after its 2022 share issuance: Kadokawa held 69.66%, Sixjoy held 16.25%, and Sony Interactive Entertainment held 14.09%. Those are historical figures from that transaction, not a verified current cap table. FromSoftware’s August 31, 2022 announcement

Company level What the cited records say How to interpret it
Kadokawa shares March 2025 reporting attributed to Nikkei said Sixjoy’s stake rose from 6.86% to 7.97%. A reported increase in Tencent’s holding in FromSoftware’s parent.
FromSoftware shares FromSoftware’s 2022 announcement listed Kadokawa at 69.66%, Sixjoy at 16.25%, and Sony Interactive Entertainment at 14.09% after a new share issue. A 2022 ownership snapshot; it does not establish the studio’s current share distribution.
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What the stake increase does—and does not—show

A minority stake increase is a change in reported share ownership. On its own, it does not establish that Tencent gained control, obtained new decision rights, secured board representation, or directed FromSoftware’s creative or business decisions. The cited 2025 reports do not describe those matters, so they should not be inferred from the percentage.

In its August 2022 announcement about the share issuance to Sixjoy and Sony Interactive Entertainment, FromSoftware said its independence would remain unchanged in game design and development, as well as in areas such as player communication and platform selection. That statement records the company’s position at the time; it is not evidence about undisclosed later decisions. FromSoftware’s 2022 statement

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How to read the reported percentages

  • 6.86%: Kadokawa’s October 2021 announcement gave this as Sixjoy’s resulting Kadokawa stake after the capital-alliance share issue.
  • 7.97%: March 2025 reports attributed to Nikkei gave this as Tencent’s stake in Kadokawa through Sixjoy after the reported increase.
  • 1.11 percentage points: IT之家’s reported difference between 6.86% and 7.97%; this is a percentage-point change, not a 1.11% relative increase.
  • 69.66%, 16.25%, and 14.09%: FromSoftware’s disclosed 2022 post-issuance holdings for Kadokawa, Sixjoy, and Sony Interactive Entertainment, respectively.

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