Japanese game developer GungHo Entertainment has sold its stake in Supercell to its own parent company, SoftBank. GII reports that the Puzzle & Dragons developer sold its holdings in the Finnish studio because it wanted to focus more on emerging markets such as "China, Southeast Asia, and South America."
GungHo bought into Supercell, the makers of the hit mobile title Clash of Clans, last October. Along with SoftBank it helped fund a $1.5 billion investment in the company for a 51 percent stake. GungHo's contribution at the time was $306 million.
The company will make a small profit on that investment – it will receive an estimated $344 million from this deal.
GungHo also announced today that it was setting up a subsidiary in Singapore called GungHo Online Entertainment Asia Pacific Pte. Ltd. The subsidiary is expected to be in full operations next month.