Nintendo, Recruit To Form Software Joint Venture
May. 31, 1996
TOKYO (AP) _ Video game machine maker Nintendo Co. and Recruit Co., both of Japan, plan to set up a joint venture to produce software for Nintendo's newest game machine, a Nintendo spokesman said Friday.
The spokesman said the joint venture will be established on July 1 and Recruit will contribute 60 percent of the 300 million yen ($2.75 million) capital.
The joint venture will develop software for the Nintendo 64, Nintendo's new 64-bit game machine that is set to go on sale in the U.S. in late September.
The new company is expected to develop four or five titles per year for the new machine, the spokesman said, adding that the new company is expected to earn revenue on royalty payments from licenses.