Marvelous has officially terminated its partnership with Tencent, leading to the cancellation of a mobile version of the popular farming simulation series Story of Seasons. The publisher, known for both Story of Seasons and Rune Factory, announced on July 31st that its board had voted to end the alliance with Image Frame Investment, a subsidiary of Tencent Holdings. This subsidiary had acquired a 20 percent stake in Marvelous in May 2020, making it the company's largest shareholder.
Tencent has consequently halted development on the Story of Seasons mobile game, which had been in production since a licensing agreement was first established in March 2019. The stated reasons for the cancellation cite the prevailing "business environment and profitability." While the six-year partnership has concluded, the original 2019 licensing agreement remains in place, technically allowing Marvelous to pursue a different mobile partner for the franchise in the future. The cancellation is not expected to affect upcoming console releases for the Story of Seasons series.
This development follows reports from earlier in July that Tencent was reassessing its investments in several Japanese game developers, including Marvelous. The Chinese multimedia conglomerate is reportedly in the process of negotiating exits from various Japanese gaming companies as part of a broader global review of its investment portfolio amidst an ongoing economic downturn in the industry. Last year, Tencent formed Vantage Studios in collaboration with Ubisoft, aiming to leverage major franchises for growth and revenue.