SoftBank has gotten approval from its board of directors to acquire a major stake in GungHo Entertainment. The Japanese telecoms company will increase its stake from 33.6 percent to 58.5 percent, making GungHo a subsidiary of SoftBank.

73,400 shares will be purchased from Asian Groove for roughly $265 million. The acquisition is part of SoftBank’s ambition to be the number one mobile internet company in Japan and have annual annual operating income of $10 billion by March 21, 2017.

GungHo Entertainment’s mobile title Puzzle & Dragons makes around $2 million a day at its peak.