Japanese mobile giants Gree, Yahoo Japan form new 'GxYz' studio

Newsbrief: Japanese mobile gaming giant Gree has formed a new company with Yahoo! Japan, with the aim to focus on development of social games for smartphones. The joint venture tentatively labelled "GxYz, Inc." will combine the user acquisition capabilities of Yahoo! Japan with Gree's development and operation skills, when it comes into action on March 13. Gree's senior manager Tomoyuki Isaka will be CEO for GxYz, with 200 million yen ($2.1 million) in capital to play around with.