Nintendo Buys 2.6% Stake in Video Game Developer Bandai

Authored by Mark Hefflinger on October 22, 2003 - 3:42am.

Tokyo -- In a bid to help ensure a greater number of game titles for its GameCube and Game Boy Advance, Japanese video game firm Nintendo has purchased a stake in fellow video game developer and toymaker Bandai. With its purchase of 1.28 million shares, Nintendo now owns 2.6% of Bandai, but told the Associated Press it has no plans to launch a takeover of the company. Tokyo-based Bandai also said toymaker Mattel has sold part of its stake in the company. Bandai has released video games based on popular toy franchises including the Power Rangers, Gundam, Strawberry Shortcake and Hello Kitty.
http://biz.yahoo.com/ap/031022/japan_nintendo_1.html
http://www.nintendo.com
http://www.bandai.com