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Tencent Takes 20% Stake in Japanese Video Game Firm Marvelous

Tencent has reportedly agreed to invest 7 billion yen ($65 million) for a 20% stake in Japanese video game developer Marvelous, the latest sign that the Chinese tech giant is further expanding its video gaming empire overseas.

The purchase, which will be made through Tencent’s subsidiary Image Frame Investment, will mean the Chinese company will become the largest shareholder in Marvelous that is known for its farming simulation game “Story of Seasons,” according to a report by Bloomberg.

The Japanese company will use the funds to bolster its existing game franchises and launch new ones over the next three years. It also plans to deepen ties with Tencent around game development and global expansion, the report said.