Does FromSoftware's parent company control the creative direction of their games?

No. FromSoftware has historically maintained strict creative autonomy. This independence is largely protected by Hidetaka Miyazaki’s dual role as both the creative director of their major titles and the president of the subsidiary company, allowing him to shield the development teams from corporate interference.

How do Sony and Tencent influence FromSoftware's future?

Sony and Tencent hold minority stakes of 14.13% and 16.25% in FromSoftware, respectively. While Kadokawa remains the majority owner, the presence of these two gaming giants on FromSoftware's capitalization table provides the studio with significant strategic leverage and makes a hostile takeover or forced corporate restructuring by Kadokawa highly difficult to execute.

Image: courtesy of PC Gamer

gamingJune 15, 2026By Veridact EditorialUpdated Jun 15

Miyazaki Reassures Markets With Unannounced FromSoftware Projects Amid Kadokawa Corporate Turbulence

On June 14, 2026, FromSoftware President Hidetaka Miyazaki publicly acknowledged that the acclaimed studio has multiple unannounced games in development. This disclosure, while standard for a major developer, carries significant weight as it was delivered alongside comments addressing ongoing executive controversies and structural instability at FromSoftware’s parent conglomerate, Kadokawa Corporation. By explicitly decoupling FromSoftware's creative pipeline from Kadokawa's corporate headwinds, Miyazaki is signaling to both global investors and a massive player base that the developer's operational autonomy remains intact. This analysis explores the strategic friction between a brilliant creative studio and its embattled parent company, evaluating how FromSoftware continues to navigate corporate governance challenges while preparing its next generation of blockbuster titles.

What to Expect

When the president of a notoriously secretive game studio chooses to tease multiple unannounced projects, the decision is rarely accidental. Hidetaka Miyazaki’s remarks on June 14, 2026, serve a dual purpose: they satisfy a hungry player base eager for life after Elden Ring, and they act as a vital corporate firewall.

By confirming that FromSoftware has several games currently in development that have not yet been revealed to the public, Miyazaki is attempting to shift the narrative away from the persistent executive instability plaguing Kadokawa Corporation. This suggests that the studio's internal production schedules have not been disrupted by the administrative friction at the parent company level.

So why would the head of a major developer choose this specific moment to drop hints about the future? The answer lies in the delicate art of maintaining market confidence. FromSoftware is no longer just a respected niche developer; it is a multi-billion-dollar global entertainment engine. Miyazaki's public stance indicates that the studio's creative pipeline operates independently of Kadokawa's corporate governance struggles.

For players, this means the studio’s traditional multi-team development model remains active. Historically, FromSoftware has run at least two major projects in parallel. While one team finalized the massive Elden Ring expansion, Shadow of the Erdtree, other internal groups were already laying the groundwork for what comes next. This indicates that at least one of these unannounced projects is likely far along in development, with a formal public reveal appearing highly probable within the next twelve to eighteen months.

Key Context

To understand the tension between FromSoftware and its parent company, one must look at the sheer scale of the value mismatch between them. Kadokawa Corporation, a sprawling Japanese media conglomerate with deep roots in publishing, anime, and film, acquired FromSoftware in 2014 for an estimated $22.5 million. At the time, it was a sensible mid-sized acquisition. Today, following the historic success of Elden Ring—which has sold over 25 million copies worldwide—FromSoftware is the crown jewel of Kadokawa’s entire portfolio.

Yet, while FromSoftware’s reputation has soared, Kadokawa has faced a series of high-profile corporate crises. The parent company has been rocked by governance scandals, executive reshuffling, and the lingering fallout of bribery allegations involving former top leadership during the Tokyo Olympics. More recently, a massive cyberattack in mid-2024 severely disrupted Kadokawa’s digital infrastructure and publishing business, exposing vulnerabilities in its corporate IT systems.

These persistent issues have made FromSoftware a highly attractive target for external suitors. Recognizing this, FromSoftware’s corporate architecture was quietly adjusted in 2022. While Kadokawa remains the majority owner, global tech giants Sony Interactive Entertainment and Tencent (via its subsidiary Sixjoy Hong Kong) acquired minority stakes of 14.13% and 16.25%, respectively. This capital injection did more than just fund development; it established a protective buffer. With two of the largest players in global gaming sitting on FromSoftware's board, any attempt by Kadokawa to overreach or mismanage the studio would face immediate resistance from powerful minority shareholders.

Historical Patterns

The history of the Japanese gaming industry is filled with cautionary tales of brilliant creative studios being stifled by the bureaucratic demands of conservative parent conglomerates. Companies like Konami and Sega Sammy have historically struggled to balance the long, expensive, and risky cycles of game development with the short-term quarterly demands of their broader corporate structures.

FromSoftware has managed to escape this fate largely due to the unique position of Hidetaka Miyazaki. Unlike most creative directors, who occupy middle-management roles, Miyazaki serves as both the chief creative force and the active president of the company. He is a rare executive who can speak the language of corporate capital allocation while maintaining absolute authority over game design. This dual role has historically allowed FromSoftware to maintain an uncompromising approach to game development, resisting the industry trends of aggressive monetization and rushed release schedules.

Furthermore, FromSoftware's development cadence has remained remarkably consistent for over a decade. The studio has historically avoided putting all its resources into a single basket. Even during the peak of Elden Ring’s production, a separate team was actively developing Armored Core VI: Fires of Rubicon. This overlapping project structure suggests that the 'yet to be announced' games Miyazaki referenced are not speculative concepts, but active production cycles that have been running quietly in the background for years.

The Sovereign Subsidiary: Why Miyazaki's Corporate Shielding Matters

This development is highly consequential because it highlights the growing leverage that elite creative studios hold over their parent corporations. In an era where game development costs have ballooned and surefire hits are exceedingly rare, a studio capable of delivering consecutive critical and commercial masterpieces is incredibly valuable. FromSoftware is one of the few entities in the entertainment industry that can dictate its own terms.

For the global gaming market, Miyazaki’s comments suggest that FromSoftware’s creative philosophy will not be compromised by Kadokawa's structural reforms. When a parent company faces regulatory scrutiny or financial pressure, the temptation to cut costs or rush products to market is immense. Miyazaki’s public reassurance indicates that he has successfully defended FromSoftware’s development cycles from this type of corporate interference.

For the individual game developer working at FromSoftware's Tokyo headquarters, this corporate shield is a matter of professional survival. It means their projects are insulated from the sudden cancellations and layoffs that have devastated other major studios across the industry. Miyazaki’s leadership ensures that creative risk-taking remains the studio's primary currency, even as the corporate structure above them continues to experience significant turbulence.

Potential Outcomes

Analysis

Analysis of the current corporate and creative dynamics suggests three possible paths forward for FromSoftware and its parent company:

First, FromSoftware may maintain its complete operational independence under the Kadokawa umbrella, using its massive profitability to deflect any corporate interference. In this scenario, the studio will proceed with its planned release schedule, revealing its next major project by late 2026 or early 2027. The financial success of this unannounced game would further solidify Miyazaki’s leverage, ensuring the studio remains an autonomous kingdom within the larger conglomerate.

Second, if Kadokawa's corporate controversies deepen or lead to severe financial distress, the parent company could be forced to restructure. One possible outcome is that Sony or Tencent could leverage their existing minority stakes to mount a joint or individual buyout of FromSoftware. This would transition the developer away from Kadokawa entirely, potentially turning FromSoftware into a first-party PlayStation studio or a highly capitalized independent entity backed by Tencent's massive resources.

Third, a less dramatic but equally plausible outcome is a period of prolonged administrative friction. To satisfy regulators and repair its public image, Kadokawa may implement highly restrictive corporate governance policies across all its subsidiaries. While this would not alter the creative direction of FromSoftware's games, it could introduce bureaucratic bottlenecks in hiring, procurement, and international marketing, potentially leading to longer development cycles for the unannounced projects currently in the pipeline.

Timeline

2014-05-21

Kadokawa Acquires FromSoftware

Kadokawa Corporation purchases a majority stake in FromSoftware, bringing the developer under its corporate umbrella to expand its presence in the global gaming market.

2022-02-25

Elden Ring Launches to Global Acclaim

FromSoftware releases Elden Ring, which quickly becomes a massive commercial and critical success, transforming the studio into a premier global entertainment brand.

2022-08-31

Sony and Tencent Acquire Minority Stakes

Sony Interactive Entertainment and Tencent buy minority shares in FromSoftware, providing the studio with development capital and creating a protective corporate buffer.

2024-06-21

Shadow of the Erdtree DLC Releases

The highly anticipated expansion for Elden Ring launches, breaking sales records for downloadable content and confirming the sustained commercial power of the franchise.

2026-06-14

Miyazaki Addresses Unannounced Games

During comments regarding ongoing corporate controversies at parent company Kadokawa, FromSoftware President Hidetaka Miyazaki explicitly confirms that multiple unannounced games are in active development.

Frequently Asked Questions

Kadokawa Corporation has faced a series of governance challenges over several years, including high-profile executive reshuffling, the fallout from bribery investigations linked to the Tokyo Olympics, and a severe cyberattack in mid-2024 that disrupted its digital infrastructure. These issues have raised questions about the stability of the parent company's oversight.

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