Gree and Tencent to share online gaming platforms

Japanese online gaming firm Gree (3632.JT) announced Wednesday that it would form a partnership with China’s Tencent (700.HK) for Chinese market access, Reuters reported. The firm said it would share a common development platform with Tencent to allow developers to offer their games and services on both Tencent and Gree products. Gree is Japan’s largest online social network, generating the bulk of its revenue from online paraphernalia such as virtual clothing which customers purchase for their online avatars. Tencent constitutes about a third of China’s online gaming market, and its QQ is the nation’s largest instant messaging service. Gree, which specializes in social gaming on mobile phones, is looking to China as a source of growth outside of its more mature home market.