Of the studios that they could reasonably acquire From is probably the best. They should also look into acquiring some of the studios from the China Hero Project but none of them are as good as From.
It's actually not concerning... Switch has a 6 times larger user base, meanwhile DQ3 only outsold PS5 4:1 on physical, and PS5 has higher digital splits so I bet the final split will be around 3:1
From their earnings reports gaming is around 10% of their revenue and 20% of their OI, but From is only a portion of their gaming (probably the biggest portion, but they do have other studios). Headcount wise they are around 8% of Kadokawa's staff.
The premium depends a lot on what shareholders are looking for. If they don't see much long term potential or feel that their position is losing they may be open to a lower premium. There's no way Kadokawa goes for more than 50% though, Hoeg is fucking out of his goddamn mind.
It's not a main DQ game though, it's a remake of a really old one. Maybe you're right though. For example the last DQ spinoff sold 350K copies first week in Japan
I think Tencent would be happy to sell their shares in Fromsoft. They already pulled other investments back from JP game dev because they don't see it as a growth area.
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