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Japanese mid-core studio Gumi heading for IPO

Japanese mid-core studio Gumi heading for IPO
Japanese mid-core studio Gumi – one of the leading developers on the GREE platform – has announced its intention to undertake an initial public offering in Japan.

In an interview with TechCrunch, founder and CEO Hiranao Kunimitsu confirmed the firm was "going to IPO" because he doesn't want to "sell my company to others."

His statement is an interesting one, however, if only because a portion of Gumi is already owned by another company: GREE.

Globally speaking

In September 2010, Gumi allocated new shares to the social gaming platform holder, and currently lists GREE as a 'major partner' on its corporate website.

Gumi's existing games include Yakuza Wars, Pirate Wars and Knight Wars – all of which are available through the GREE platform. There's no indication that an IPO would change Gumi's close relationship with the Japanese social gaming giant.

Indeed, Gumi may form an integral part of GREE's ongoing attempts to court the western market. Kunimitsu is certainly keen to see his company's games tap into the wider global market.

"If the Japanese part of the industry is only 10 percent to 15 percent of the total market and it's worth $5 billion, globally we’re looking at a $50 billion market. Maybe that’s what it’s going to be," added Kunimitsu.

"We'll call that the ceiling."

Although nothing is confirmed yet, it seems likely that Gumi will undertake its IPO sometime in 2013.

[source: TechCrunch]

Staff Writer

PocketGamer.biz's news editor 2012-2013

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