Despite investors moaning that Elden Ring’s success hasn’t been milked hard enough financially, FromSoftware parent company’s CEO has kept his job
Takeshi Natsuno has retained his position as CEO of Kadokawa, FromSoftware’s parent company, following the company’s latest annual shareholders meeting. The decision comes despite ongoing efforts by an activist investor group to remove him from the role.
The Hong Kong-based activist investor coalition has been campaigning for Natsuno’s ouster, arguing that Kadokawa has failed to capitalize fully on the commercial success of Elden Ring. The group contends that the publisher has left substantial financial opportunities unrealized despite the game’s massive popularity and critical acclaim since its 2022 release.
This corporate dispute represents a clash between activist investors seeking maximum shareholder returns and current leadership’s strategic direction. The investors’ criticism centers on how Elden Ring’s extraordinary commercial success—the game became a cultural phenomenon and commercial juggernaut—has been monetized and leveraged for broader corporate benefit.
Natsuno’s continued leadership suggests that Kadokawa’s board has backed the current CEO’s strategy, or that the activist investor group did not command sufficient shareholder support to force a management change. The outcome reflects broader tensions in the gaming industry around how publishers should balance creative vision with profit maximization, particularly following the exceptional performance of major titles.