Bandai Namco Holdings
was a Japanese video game developer and publisher headquartered in Shibuya, Tokyo. It was founded in 2007 as a venture between Sony and Bandai Namco Holdings. The aim of the company is to "help take share from Microsoft Corp. and Nintendo Co." Sony hopes that the company will make up for the losses it made during quarter two of its financial year. 'Father of the PlayStation' Ken Kutaragi was announced as CEO. Bandai Namco Holdings held 51% of the company, and Sony held 49%. The company planned to use Sony's Cell microprocessor, the heart of the PlayStation 3, for PlayStation 3 games and games for mobile phones and personal computers. Its only video game project was a "Ridge Racer" game for the PlayStation Vita.