Sony has just closed a deal to buy 16 million shares of Tokyo-based gaming giant Bandai Namco for US$464 million (JPY¥68 billion).

This 2.5% stake acquisition is meant to facilitate a broader strategic alliance that’s all about “expanding the fan community for IPs such as anime and manga,” reads a press release. 

In other words, both companies want to leverage their respective strengths in a much bigger way in the anime market, which continues to grow in size and global reach. Bandai owns plenty of classic IPs, such as iconic video game Pac-Man and the Gundam franchise (pictured), while Sony has vast expertise in anime production and consumer products—not to mention the fact that it owns popular anime streamer Crunchyroll.

Together, the partners are mapping out plans for the joint development and promotion of Japanese IPs (which will obviously over-index on anime and manga), as well as seeking out partnership opportunities in the experiential entertainment space.

The to-do list also includes plans to invest in “fan engagement” and support creators through “entertainment-related technologies and services”—but there are no details yet on what those services might entail.