Gree and Yahoo Japan launch new social and mobile initiative
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Mobile publisher Gree and Yahoo Japan have teamed up to open a new developer of social and mobile games, GxYz Inc. GamesIndustry reports the two companies began laying the foundation for the new developer in November 2012, and have fronted ¥200 million ($2.1 million) in capital. Gree holds 51% of shares in the new company, while Yahoo holds the remaining 49%. The board of directors is composed of two members of each company, and Gree's Tomoyuki Isaka will act as CEO. Social network provider Gree is a major force in mobile gaming in Japan and is expanding operations in the west. It's responsible for Metal Gear Solid: Social Ops.