After it was revealed last year that Koei (Dynasty Warriors) and Tecmo (Ninja Gaiden, Dead or Alive) were to merge into one holding company, the deal has been subject to the approval of each company’s shareholders.

It was announced yesterday that the merger has now been given the go-ahead, as the shareholders have indeed approved of the deal. There was a bit of dissention among the ranks though, as one of the shareholders, Effissimo Capital, are unconvinced as to the benefits of the merger.

Effissimo, who holds an 18 percent stake in Tecmo, making it the second largest shareholder of the company, say that they have not received sufficient explanation detailing the advantages of merging with Koei, and are expected to sell their stock in opposition to the merger.

Regardless of their opposition, the merger will go ahead as planned and the new Tecmo-Koei holding company will be official as of April 1st this year. The company is expected to be worth $207 million, while sales revenues are expected to reach $727 million on profits of $166.2 million by the fiscal year ending March 2012.