In a press release today, Nintendo has announced that it has formed a new subsidiary company with Sora, Ltd., the studio helmed by Super Smash Bros. creator and director Masahiro Sakurai. This new subsidiary, Project Sora, is jointly owned by both companies, with Nintendo owning 72% stake, while the other 28% belonging to Sora, Ltd.

Project Sora currently has thirty employees, and is seeking to hire more. Masahiro Sakurai has been named the director of software development for this new subsidiary. Available on the Project Sora website is an interview between Nintendo President Satoru Iwata and Sakurai, where they reveal that (according to NeoGAF poster Tenbatsu) Project Sora is a company set up to make big titles for the core audience.

[Project Sora website]

Akira_EX via nintendo.co.jp »