Kadokawa's shares closed up 16% in Tokyo on Wednesday, a day after Reuters reported Sony was in talks to acquire the publishing, anime and gaming powerhouse. Shares in Kadokawa, which controls "Elden Ring" developer FromSoftware,

While Microsoft has become the main character of acquisitions in corporate culture with its $69 billion purchase of Activision Blizzard, a new report suggests Sony is gearing up for a big buyout that will propel it even further to the top of the totem pole of monopolizing the anime industry.

Sony Group Corporation is in talks to acquire fellow Japanese conglomerate Kadokawa, according to media reports that emerged this week. The firm's animation and games properties may underlie the possible M&A activity.