Taito Merger Pays Dividends

Merger madness has spread into the gaming industry, where Square-Enix (makers of the recent Final Fantasy games) have bought out Taito Corporation stocks and will officially take possession of the company next Thursday.

In their Notice Regarding Commencement of Tender Offer, it is stipulated that 247,900 Taito shares must be purchased by Square-Enix in order for the Tender Offer to be approved. At last count, approximately 350,000 shares had been acquired, more than meeting the requirements set out by the two companies.

The reason behind the merger? Square-Enix explains that:

The current environment in the computer game and entertainment industry, which the Company and TAITO operate in, is gradually entering a phase of major transformation of the industry’s structure in connection with advances in information and communication technology. In order to respond to this transformation in a timely and appropriate manner, it is essential to take a comprehensive approach to expand the selection of goods and services.

Taito stocks, which have been off the previous chart since August in response to this buyout, continued their climb today with a 4.09% increase on the Tokyo Stock Exchange. The two companies will remain under their respective names.