But for Kadokawa themselves, they have shared a statement confirming that the potential deal between them and Sony has yet to be confirmed. Noting that they “received an initial letter of intent to acquire the Company’s shares,

Sony is currently in talks to buy FromSoftware parent company Kadokawa Corporation in its entirety, a new report has claimed.

Kadokawa Corporation has confirmed it has received a buyout offer from Sony, but insists it has yet to make a decision on whether to sell up.

Japanese media powerhouse Kadokawa said on Wednesday it had received a letter of intent to buy its shares, a day after a Reuters report that Sony was in talks to acquire the developer of the acclaimed "Elden Ring" fantasy game sent its stock soaring.

Sony is gearing up for another large acquisition, which, if finalized, may have major repercussions for multiple Nintendo franchises.

Sony explores acquiring Kadokawa to boost its content empire, particularly in anime and gaming with Elden Ring's developer, FromSoftware, at the center.

Just a few days ago, it was reported FromSoftware parent company Kadokawa Corporation may be acquired by Sony. This raised concerns about console exclusivity, and if Sony would bring games under the conglomerate’s umbrella to Xbox.

Japanese media giant Kadokawa has confirmed Sony's intent to acquire the company through a buyout. However, no plans have been solidified, as Sony has only submitted a letter of intent, but if an agreement were to be made,