Sony (NYSE: SNE) recently bought a 5% stake in Chinese tech company Bilibili (NASDAQ: BILI) for about $400 million. The two companies also launched a new partnership to "pursue collaboration opportunities in the entertainment field in China, including animation and mobile game apps."
This isn't the first time the two companies have worked together. Sony's subsidiary Aniplex already licenses its top mobile game, Fate/Grand Order, to Bilibili in China. Fate/Grand Order was the world's highest-grossing mobile game last year, according to App Annie, but its growth has gradually decelerated over the past year. Sony's Funimation unit also partnered with Bilibili to acquire anime licenses last year, while Sony Music recently licensed music videos to Bilibili.
Image source: Aniplex.