Tecmo, a Japanese video games developer known for gratuitous gore and highly-sexualised female characters, has received a takeover bid from a larger rival as consolidation accelerates in the industry.

Square Enix said on Friday it would make a friendly offer for at least 50 per cent of the company provided that Tecmo’s board accepted its offer by September 4. Tecmo replied that it was considering its response to the offer, which values its equity at Y21.7bn ($200m).