Tencent (00700.HK) is currently engaged in discussions regarding the potential divestment of its investments in multiple Japanese game developers, among which is Tokyo-listed Marvelous. The company is in the process of assessing its minority shareholdings and might opt to offload them at a loss to the original management teams. One of the key determinants for this exit strategy is the weakening of synergies. Tencent has made it clear that video games continue to be its primary focus, and it intends to maintain a close working relationship with the companies it has invested in, so as to uphold its long-standing presence in the Japanese market. A spokesperson for Marvelous declined to offer any comment on the matter. As per a Sensor Tower report, Tencent once again claimed the top spot in the global mobile game publisher revenue rankings in 2025. Back in 2020, Tencent invested approximately 7 billion yen (equivalent to around HK$340 million) to secure a 20% stake in Marvelous, thereby becoming its largest shareholder.