A Strategic Acquisition to Conquer Asia
Board game giant Asmodee has reached a major milestone in its growth strategy by acquiring Japon Brand from CMON. This move aims to establish a lasting presence in a Japanese market deemed “under-exploited” by the group, despite its immense cultural influence. Japon Brand is a historical player, famous for exporting global hits such as Love Letter and Machi Koro. By integrating this entity, Asmodee intends not only to localize its own titles for Japanese players but also to identify local gems for worldwide distribution.
The Birth of Nekuma, a New Creative Hub
To drive this ambition, Asmodee has announced the launch of Nekuma, a brand-new design studio based in Japan. Under the interim leadership of Frederic Nugeron, this studio will serve as a cornerstone for sourcing and supporting the most promising Japanese and Asian game designers. The goal is clear: combine local expertise and an understanding of cultural nuances with Asmodee’s global distribution powerhouse. This pivot toward Asia is crucial for the group, as sales outside of Europe and the Americas represented less than 5% of its total revenue in 2025.
CMON in Difficulty, Asmodee on the Move
This sale also takes place against a backdrop of fragility for CMON, which is navigating a difficult financial period following losses amounting to several million dollars. To restructure, CMON has had to cede several of its flagship licenses to Asmodee, notably Zombicide and Sheriff of Nottingham. For its part, Asmodee confirms the return of an aggressive acquisition strategy (M&A), boosted by record results in Europe at the end of 2025. With the creation of Nekuma and the buyout of Japon Brand, the industry leader is positioning itself to transform its presence in Asia into a sustainable growth engine.
