Sega is selling the remaining 14.9 percent of its amusement centre business to Genda Inc.
The news was announced in a Japanese press release (via Google translate), and means Sega branding will now be stripped from arcades around Japan.
Genda purchased 85.1 percent of Sega's iconic Sega Entertainment amusement segment in 2020, and has now agreed to acquire all outstanding shares.
Following the deal, the company intends to change the name of the business from 'Genda Sega Entertainment' to 'Genda GiGo Entertainment.'
"We have decided to change the store name of game centers nationwide operated under the 'SEGA' brand to 'GiGO.' As a result, we have decided to change the company name to GENDA GiGO Entertainment Co., Ltd." reads a press release.
Sega began selling off its amusement centre operations after struggling to cope with the impact of COVID-19, with a drop-off in customers resulting in a "significant loss" during 2020.