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TENCENT HOLDINGS LIMITED

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Japan's Marvelous shares jump 17% as China's Tencent takes 20% stake

05/26/2020 | 03:30am EST
FILE PHOTO: People visit Tencent's booth at the World 5G Exhibition in Beijing

By Sam Nussey

Shares in Japan's Marvelous Inc on Tuesday closed up 17% at their daily limit of 682 yen after the games maker announced China's Tencent Holdings Ltd would take a 20% stake.

Tencent will spend around 7 billion yen ($65 million) acquiring shares from Marvelous and its largest shareholders, Amuse Capital and its chief executive, Hayao Nakayama, a former Sega executive whose son founded Marvelous. It will pay 576 yen each - 1% below Monday's undisturbed closing price.

Marvelous said in a stock exchange filing it plans to use the funds to launch games franchises and for overseas expansion of current titles, which include farming simulator Story of Seasons: Friends of Mineral Town for Nintendo Co Ltd's Switch console and cross-platform shooter Daemon X Machina.

The investment is the latest example of an influx of Chinese money and gaming content into Japan, where a largely unconsolidated industry underpinning the country's pop culture is having to compete with well-resourced overseas rivals.

"In comparison to Western companies there is a widening abyss in terms of development capability and financial clout," Marvelous said in a statement.

Tencent, the world's largest gaming company, launched mobile title Code: Dragon Blood in Japan last month, which currently sits in ninth place in gross rankings on Apple Inc's App Store, showed data from analytics firm App Annie. Peer NetEase Inc's battle royale game Knives Out is second.

"Tencent is after the magic of Japanese companies creating 'otaku' geek-orientated content," said Serkan Toto, founder of game industry consultancy Kantan Games, referring to the niche but lucrative fan base for products spanning games, animation and comic books.

(Reporting by Sam Nussey; Editing by Christopher Cushing)


ę Reuters 2020
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BASE CO., LTD. -5.35% 3800 Delayed Quote.-6.41%
BASE, INC. -3.31% 555 Delayed Quote.-6.82%
LETS HOLDINGS GROUP CO., LTD. 2.86% 7.54 End-of-day quote.3.29%
LOOK HOLDINGS INCORPORATED -2.75% 1133 Delayed Quote.-4.43%
MARVELOUS INC. -1.38% 715 Delayed Quote.-0.82%
NETEASE, INC. 3.34% 105.085 Delayed Quote.-0.04%
NINTENDO CO., LTD. -0.22% 53290 Delayed Quote.-0.45%
SWITCH, INC. 0.12% 25.37 Delayed Quote.-11.66%
TENCENT HOLDINGS LIMITED -2.75% 452.8 End-of-day quote.-0.88%
TOTO LTD -3.98% 4820 Delayed Quote.-5.10%
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Analyst Recommendations on TENCENT HOLDINGS LIMITED
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Financials
Sales 2021 567 B 89 323 M 89 323 M
Net income 2021 159 B 25 042 M 25 042 M
Net cash 2021 138 B 21 684 M 21 684 M
P/E ratio 2021 22,7x
Yield 2021 0,45%
Capitalization 3 542 B 558 B 558 B
EV / Sales 2021 6,01x
EV / Sales 2022 5,03x
Nbr of Employees 107 348
Free-Float 62,5%
Chart TENCENT HOLDINGS LIMITED
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Tencent Holdings Limited Technical Analysis Chart | 700 | KYG875721634 | MarketScreener
Technical analysis trends TENCENT HOLDINGS LIMITED
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TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 50
Last Close Price 369,14 CNY
Average target price 502,15 CNY
Spread / Average Target 36,0%
EPS Revisions
Managers and Directors
Hua Teng Ma Executive Chairman & Chief Executive Officer
Chi Ping Lau Chief Strategy & Investment Officer
Shek Hon Lo Chief Financial Officer & Senior Vice President
Chen Ye Xu Chief Information Officer
Yu Xin Ren COO & President-Interactive Entertainment Group
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