The business takeover, where Bandai acquired Namco for $1.7 billion, was finalized on September 29.[1] An entertainment conglomerate named Namco Bandai Holdings was established the same day; while their executive departments merged, Bandai and Namco became independently-operating subsidiaries of the new umbrella holding company.[176][177] Kyushiro Takagi, Namco's vice chairman, was appointed chairman and director of Namco Bandai Holdings.