Gree and Yahoo! Japan have announced that they are launching a new business designed to create social games on mobile phones. The new entity called GxYz Inc. has roughly $2 million in capital to start.
Gree has a 51 percent shareholder ratio in GxYz, with Yahoo! Japan claiming the other 49 percent. The new entity’s board will be composed of two directors from Gree in Taisei Yoshida and Tatsuhei Asanuma, along with directors Kentaro Kawabe and Shinichi Kudo from Yahoo, led by Gree’s Tomoyuki Isaka as CEO.
