responsible for beginning the golden age of arcade video games. After Michael Kogan died in February 1984, his son, Abraham "Abba" Kogan, became Taito's chairman and Akio Nakanishi became its president. In April 1986 and barely a month after becoming part of the Kyocera group, Taito merged with two of its subsidiaries, Pacific Industrial Co., Ltd. and the Japan Vending Machine Co., Ltd, and absorbed them both. Japan Vending Machine was once an independent company but was purchased by Taito in July 1971 to strengthen its presence in the operation of amusement facilities. Pacific Industrial was created by Taito itself in 1963 to develop products for the company. 1990s–2000s In 1992, Taito announced a CD-ROM-based video game console named WOWOW, that would have allowed people to play near-exact ports of Taito's arcades (similar to the Neo Geo), as well as download games from a satellite transmission (as the Satellaview would do later). It was named after the Japanese television station WOWOW and would have utilized its stations to download games. The WOWOW was never released. Taito America ceased operations in July 1996 after more than 20 years of existence. Taito had already sold exclusive rights for publishing its games in America to Acclaim Entertainment the previous year. Similarly, a division existed in London, England, United Kingdom to distribute Taito games in Europe. Taito (Europe) Corporation Limited was created in 1988 and liquidated in February 1998. When Taito was owned by Kyocera, its headquarters were in Hirakawachō, Chiyoda. In October 2000, Taito merged with Kyocera Multimedia Corporation to enter the market of mobile phones for the first time. On August 22, 2005, it was announced that the gaming conglomerate Square Enix would purchase 247,900 Taito shares worth ¥45.16 billion (US$409.1 million), to make Taito Corporation a subsidiary of Square Enix. The purpose of the takeover by Square Enix was to both increase Taito's profit margin exponentially as well as begin its company's expansion into new forms of gaming (most notably, the arcade scene), and various other entertainment venues. The takeover bid from Square Enix was accepted by previous stockholder Kyocera, making Taito a Square Enix subsidiary. On September 22, 2005, Square Enix announced successfully acquiring 93.7% of all shares of Taito, effectively owning the company by September 28, 2005. By March, 2006 Taito became a subsidiary wholly owned by Square Enix and was delisted from the First Section of the Tokyo