Sony to Invest in Chinese Video Platform Operator Bilibili
Tokyo, April 10 (Jiji Press)--Japanese electronics giant Sony Corp. <6758> said Friday that it will invest in Chinese online video platform operator Bilibili Inc. through a wholly owned subsidiary.
Sony Corp. of America will acquire 4.98 pct of the Chinese firm's outstanding shares for approximately 400 million dollars, or some 43.6 billion yen.
Sony is seeking to expand its entertainment business in China by cooperating with Bilibili, whose distribution services for anime titles and video games are popular among young people in the country.
Bilibili is one of the largest online entertainment platforms in China, and is often compared to Japan's Niconico video-sharing platform run by Dwango Co.
Sony has previously worked with Bilibili through the distribution of smartphone-based games and anime videos produced by the Japanese company's subsidiaries. It hopes to boost relations with Chinese anime producers and creators through the investment.
[Copyright The Jiji Press, Ltd.]