Hidetaka Miyazaki, the director behind Dark Souls and Elden Ring, pushed back against concerns that activist investor pressure could reshape FromSoftware's game development strategy. In a statement to Japanese gaming outlet Denfaminico Gamer, Miyazaki said the studio maintains the ability to "freely make the kind of games we want to make without excessive interference."
The reassurance comes as Oasis Management Company has become Kadokawa's largest shareholder, holding a 13.76% stake that now exceeds Sony's 11.01% position. Oasis, an activist investment firm, has been vocal about its belief that Kadokawa is leaving money on the table with FromSoftware, claiming the parent company "fails to capture FromSoftware's full value."
Activist investors traditionally seek board seats and operational influence to boost shareholder returns. Oasis has already called for the removal of Kadokawa CEO Takeshi Natsuno and has previously pushed other gaming companies toward mobile platforms, infamously suggesting Nintendo could charge 99 cents for players to make Mario jump slightly higher. Those moves raised alarm among FromSoftware fans who worry about pressure to chase trends or accelerate release schedules.
Miyazaki acknowledged he cannot discuss the corporate situation in depth but expressed confidence in FromSoftware's trajectory. "I'm not saying that there's no room for improvement but we can freely make the kind of games we want to make without excessive interference," he wrote. He emphasized that maintaining this creative environment remains the studio's top priority.
The director also teased upcoming work beyond what the public already knows about. "I hope players will look forward to both the announced and unannounced titles to come," Miyazaki said, hinting that FromSoftware has projects in development that haven't been revealed yet.
On the confirmed front, FromSoftware is bringing Elden Ring to Nintendo Switch 2 later this year in a special Tarnished Edition, while the action title The Duskbloods is also scheduled for the platform. Elden Ring itself has shipped 30 million copies worldwide. Miyazaki previously ruled out an Elden Ring sequel for now, though he left the door open for one eventually. An Elden Ring film adaptation is in the works as a longer-term project.
Kadokawa is set to hold its annual shareholders meeting on June 24, where it will oppose Oasis's proposal to remove Natsuno. The outcome could determine whether activist pressure escalates or subsides.
Author Emily Chen: "Miyazaki's confidence in FromSoftware's freedom feels genuine, but the fact that he had to issue this statement at all shows the heat is real."
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