Capcom Founder Investing Into the Winery Business.
CEO of Monster Hunter and Street Fighter game publisher of Capcom, Kenzo Tsujimoto, has recently been reported of placing his dividend earnings into Kenzo Estate, a winery based in Napa Valley that is said to be worth $100 million during 2010.
Tsujimoto has been battling it out against an M&A of Capcom. The company reported sometime during June 16, during a shareholder meeting, it disapproved of a proposal in order to renew the company’s currently existing takeover defense, thereby preventing the company from being brought over though the use of a hostile takeover.
According to an article done by Business Journal, there a deeper story going on to the board’s rejection, which has probably lead up to Tsujimoto’s decision for this side business. The company’s foreign shareholder outside of Japan would profit immensely from a merger and acquisitions deal instead of a complete takeover, as advised by the shareholder’s consultancy firm. For that matter, 47.41 percent of the Capcom board was in favor of renewing the plans, with 45.08 percent of the company’s stock being owned by said foreign investors.
Although, its currently unknown if Capcom does manage to be acquired, it will help out to finance the CEO’s winery. With all of that said, Capcom plans to re-propose the idea during next year’s shareholders meeting, once again.
Within the business field where developers aren’t sure if a triple A game on a console or PC can make it despite the positive reviews garnered from press and critics, investing in a side busienss that’s known to be stable is a smart move to fall back upon, with wine being a popular commodity for century’s.