Sony Communication Network would buy a 27% stake in Gamepot, an operator of a popular online golf game, for 2.6 billion yen ($22 million), as Sony's Internet unit strives to beef up its online game operations, a Reuters report said.
The Reuters report said Japan's online game market is expanding rapidly as broadband Web access becomes more widespread.
Sony Communication, which operates So-net Internet service provider, will buy 8,200 new shares of Gamepot in a third-party allocation. It will also buy 15,000 existing Gamepot shares from Aeria, Gamepot's parent, the report said.
Besides the third-party allotment and purchase of existing shares, Sony Communication, owned 60.1% by electronics and entertainment conglomerate Sony, plans to buy 1.1 billion yen worth of Gamepot convertible bond, the report further said.
The payment date for the transactions is October 3.