Konami Buys Japans Biggest Fitness Club

This article comes from Highwaygames.com

In one of the biggest tender offers placed by a Japanese firm, Konami will purchase 11.32 million shares of People at a cost of more than $US 600 million.

As reported by CNN Debt-ridden retailer Mycal Corp, which currently owns a 53.25 percent stake in People, said it had agreed to sell its entire stake to Konami. The bid takes effect on Tuesday and will be completed on February 19.

The takeover should enable Konami to extend its reach further into the healthcare and entertainment fields. This will include joint development of fitness "games" such as aerobics and dance games with People, which operates a nationwide chain of fitness clubs.

Previously, People helped Konami with the "Diet Mode" concept on the Dance Dance Revolution games.