Namco Bandai has flogged its Japanese development studio Monolith Soft to Nintendo, reports out of Japan are indicating.
The developer was formed by ex-Square man Hirohide Sugiura and is responsible for the well-received RPG series Xenosaga and Baten Kaitos, as well as reportedly developing Nintendo's own Disaster: Day of Crisis for Wii.
The news comes from a press release out of reliable Japanese news source Nikkei. According to our crack team of translators (Mike J, apprentice Japanese linguist) Nintendo now owns 80% of Monolith's stock while Namco still hold on to 16% of their original 96% holdings, worth approximately 75 million yen.
This of course gives Nintendo another experienced and much-needed second party developer, especially after the loss of Rare and Silicon Knights who both defected to Microsoft's console.
We suppose those Wii earnings had to go somewhere, eh?