May 8th, 2012 by Arjan Olsder Posted in Analysis & Editorial | No Comments »
Following investigation of a local consumer affairs agency, Gree and DeNa have seen the value of their shares going down. A sales practice of the companies might have been deemed illegal…
According to Bloomberg, Share prices of Gree went down with 23.1%, translating to about $704 million as one of the sales methods Gree is utilizing seems illegal. The method in question is called “complete gacha”. Complete gacha is a mixture of selling virtual items that can be collected and convert into a rare item when combined in a certain combination. This violates the law through unjustifiable premiums and misleading representations.
Ryutaro Shima, head of Gree’s corporate division said the company can do without this method of sales and will consider putting an alternative strategy in place.
