Kakao Acquires 4.9% Stake in Japanese Content Giant 'Kadokawa'

[Asia Economy Reporter Buaeri] Kakao has made an investment in the major Japanese content company 'Kadokawa.'

According to Kakao's semi-annual report on the 16th, Kakao acquired a 2.7% stake in Kadokawa at the end of June for 41.2 billion KRW.

Since then, it has made additional investments, and its current stake has reached 4.9%.

Founded in 1954, Kadokawa is a comprehensive content company. Through various businesses such as comics, animated films, magazines, and games, it recorded sales of 208.6 billion yen (approximately 2.3221 trillion KRW) last year.

Kakao plans to further strengthen its Japanese content business, including webtoons, through cooperation with Kadokawa.

Kakao Japan's webtoon platform 'Piccoma' has been growing every year since its launch. In the second quarter of this year, its transaction volume grew 2.5 times compared to the same period last year. It has recorded operating profit for three consecutive quarters from the fourth quarter of 2019 to the second quarter of this year. Last month, 'Piccoma' also ranked first in monthly sales in the local non-game sector.

This content was produced with the assistance of AI translation services.