Nintendo announced today that it will pay $46.5 million to acquire a whopping 70 percent of Japanese distributor, Jesnet. Jesnet will become a Nintendo subsidiary as part of the deal.
Nintendo’s statement announcing the deal says that it’s buying a controlling interest in Jesnet to help in its continued effort to “[bring] smiles to people across the world through products and services.”
Jesnet will work with Japanese video game wholesale company Ajioka as part of the move as well.
“To continue to produce an unprecedented level of fun, Nintendo has worked to produce products that anyone can enjoy, regardless of their age, gender or past gaming experience,” the statement continued. “At the same time, Jesnet and Ajioka have been the largest-scale companies dedicated to handling Nintendo products in Japan for many years, selling mainly video game systems through their nation-wide distribution network.”
“This subsidiarization and acceptance of assignment of business will unify Nintendo’s product development acumen with Jesnet’s and Ajioka’s robust stocking and sales networks to form a supply structure that can meet consumer demand in a timely fashion.”
Jesnet will officially become a subsidiary in April at the start of Nintendo’s new fiscal year. Nintendo will also have an “integrated system from the development through supply of its products, allowing for rapid decision-making and an improvement in sales service.” As a result of Jesnet’s participation.
Overall, Nintendo said it expects the acquisition to “strengthen the overall competitiveness of the Nintendo group and increase its corporate value.”
Jesnet had been a partner with Nintendo previously before this deal, distributing physical products in Japan.
Nintendo’s full statement can be read here.
