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Japanese game developer Marvelous has confirmed that it is ending its business and capital partnership with Image Frame Investment, a subsidiary of Tencent Group. The announcement came on July 31, following a Bloomberg report last month that said Tencent was considering pulling its investments from several Japanese game studios, including Marvelous, known for the Rune Factory and Monster Hunter Stories series.
According to gaming outlet GameBiz, the six-year business alliance between the two companies is coming to an end because Image Frame Investment wants to sell off its shares in Marvelous. This decision follows a broader change in how Tencent manages its investment portfolio and allocates capital.
As a result of this move, Tencent and its related companies will no longer be considered a major shareholder of Marvelous. Instead, Hayao Nakayama, former president of Sega and current CEO of Amuse Capital, is expected to become Marvelous’ largest shareholder, with Marvelous CEO Haruki Nakayama following behind him. Image Frame Investment’s 12.17 million shares will be split between Marvelous itself, SBI Securities, and one other Japanese business firm.
Alongside the end of the partnership, Tencent also plans to shut down development on a mobile game based on the Story of Seasons series. The license for this project was originally signed in 2019. Tencent pointed to “business environment and profitability” as the reasons behind the cancellation. That said, the licensing agreement between the two companies is still in effect, meaning Marvelous and Tencent have not fully cut off their business relationship.
For now, Marvelous’ other franchises remain unaffected by this development, and the company has not announced any further changes tied to the end of the Tencent partnership.
