By Ishaan . November 14, 2013 . 10:30pm
Nintendo have bought a stake in Dwango Co., the Japanese company that owns the Japanese video content platform Nico Nico Douga, according to a Business Week report.
Dwango is a telecommunications company and provides content through smartphones, but Nintendo don’t intend to use the service to deliver games, said Nintendo spokesman Yasuhiro Minagawa. Currently, the company uses Dwango’s Nico Nico system to promote its games.
Additionally, Minagawa added, Nintendo acquired the Dwango shares at the request of Dwango chairman Nobuo Kawakami for his “personal funding needs”.
Nintendo stock rose by 5.2% to 13,070 yen after the announcement that Nintendo had bought 612,200 shares in Dwango. Meanwhile, Dwango shares increased by 21%.