Sammy Claims Majority Stake in Sega

December 8, 2003, 11:18 am EST
Total comments: 5

It's about time someone got this over with.

Sammy Corporation Purchases Stake in Sega Corporation

CARLSBAD, Calif. - December 8, 2003 - Sammy Holding Company, Inc. today announced that parent company Sammy Corporation, in a continuing effort to diversify its global entertainment holdings, has acquired the shares of Sega Corporation held by CSK Corporation.

The investment gives Sammy Corp. 39,148,600 additional shares, or a majority stake of 22.4%, in Sega Corporation. The two companies have been collaborating on various projects. With this acquisition of the shares, Sammy plans to solidify its business relationship with Sega.

"Sammy is a strong company financially and is looking to pursue strategic investment opportunities," said John Rowe, President and Chief Operation Officer of Sammy Holding Company, Inc. "Now that we have taken yet another step toward becoming a global force in entertainment, we look forward to finding mutually beneficial ways to work with Sega."

Sammy Corp. is growing its pachinko and pachislot business as it continues to diversify into other areas of entertainment. Sammy Holding oversees Sammy Corp.'s business in the US, Canada, and Europe.

Talkback

jasonditzDecember 08, 2003

I demand a US release of Doctor Robotnik's mean Pachinko machine!

Squiggles the ChaoDecember 08, 2003

I believe that the article is mistaken. In order to achieve a majority, one must obtain a figure higher than 25%. One could presumably read the article to mean the Sammy has 22.4% of the shares over the fifty percent, making their total holdings in SEGA 72.4%, but other articles have used more percise language to identify the figure (22.4%) as the entirety of Sammy's holdings. In this case, the word "plurality" should be used.

But Sammy is trying to take over SEGA, as other articles have pointed out, but they have no idea who will sell the the other 28.7% they need. This is not necessarily a bad move. SEGA makes pachink machines, Sammy makes Pachinko machines. I'm sure business under sammy will be business as usual for SEGA.

Grey NinjaDecember 08, 2003

It's about time. I am very happy with this. Sega can make their games as usual, but under the direction of Sammy, who hopefully have a lot better business sense. Sega just wasn't good for Sega if you know what I mean.

DjunknownDecember 08, 2003

I guess with with a chunk of shares, the Sega/Sammy situation is resolved? Hopefully Sammy can adivise against such actions as usless lawsuits such as the recent one involving the Simpson's hit and run game. Will we see Sammy/Sega collaborations in the future?

Glenn2K4December 09, 2003

i dont really care...i mean, really, who really gives a woot about it?

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