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Business

Nintendo, DeNA team up for smartphone foray

TOKYO -- Nintendo will work with Japanese game developer DeNA to bring its valuable intellectual property to the booming smartphone game market, aiming to revive its earnings.

     According to the terms of the business and capital tie-up announced Tuesday, the two companies will take roughly 22 billion yen ($179 million) stakes in each other. This equates to 10% of DeNA's outstanding stock and about 1% of Nintendo's. Nintendo will become DeNA's second-largest shareholder behind founder Tomoko Namba.

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