The family office of the Nintendo founder is backing plans by senior executives at Japan Business Systems, Inc. to take the software company private, countering a takeover offer from a Hong Kong-based investment firm, according to people with knowledge of the matter.
The Yamauchi No. 10 Family Office, which manages more than $972 million in assets, plans to spend billions of yen to support the management buyout, declining to be identified because the matter is private.
The Yamauchi No. 10 Family Office manages assets previously owned by former Nintendo Chief Executive Officer Hiroshi Yamauchi who died in 2013, the people said. Yamauchi was Nintendo’s second-largest shareholder and held about 10% of the stock before his death, according to data compiled by Bloomberg LP.