Major video game maker Nintendo Co. has purchased a 2.6 percent stake in toy maker Bandai Co., or 1.28 million shares, becoming one of its top 10 shareholders, Bandai said Wednesday.
Bandai President Takeo Takasu told a news conference Nintendo did not make the purchase for a future takeover or a capital tieup.
The Nihon Keizai Shimbun reported last weekend that Nintendo bought some of the shares from major U.S. toy company Mattel Inc.
Bandai and Mattel tied up in a marketing alliance in 2000, and the U.S. firm reportedly owned 2.06 million Bandai shares as of the end of March. But the two companies have ended the alliance.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.