United Kingdom, Dec. 19 -- Sony has announced it has formed a "strategic capital and business alliance" with Kadokawa.

The corporation bought a further 12,054,100 shares in Kadokawa - which is the parent company of 'Elden Ring' developer FromSoftware - and so now holds roughly 10 per cent of the business' shares, making Sony Kadokawa's largest shareholder.

While this is not a full acquisition as it was previously suggested in November by Reuters, Sony will be adapting Kadokawa's IPs into live-action movies and TV shows, co-produce anime, and publish the studio's games.

In a statement, Sony President and CFO Hiroki Totoki said: "Through this capital and business alliance, we will become the largest shareholder of Kadokawa, which consist...