renamed "Tehkan Electronics Corporation". Merger of Tecmo and Tehkan Electronics Corporation. Focus on console video games On April 1, 1987, Tecmo Co., Ltd merged with its sister company Tehkan Electronics Corporation. The former's name was retained for the merger but the latter was the actual surviving company. By the turn of the decade, Tecmo was firmly in the camp of video game consoles. Though still involved in the arcade industry, much of the success was achieved on the Nintendo Entertainment System with titles such as Ninja Gaiden, Tecmo Bowl and the Japan-only Tsuppari Ōzumō. When Sony released its PlayStation in the 1990s, Tecmo joined the endeavor which set the tone for series such as Dead or Alive, Monster Rancher, Deception and Gallop Racer. In January 2006, Junji Nakamura resigns as president of Tecmo, while Yoshimi Yasuda was named his successor. On July 18, 2006, Tecmo's founder and chairman Yoshihito Kakihara died of interstitial pneumonia at the age of 67. Tecmo entered the second section of Tokyo Stock Exchange in March 2000 and transitioned to the first section in March 2001. It delisted on March 26, 2009 right before the merger with Koei took effect. Lawsuit On the June 3, 2008 Team Ninja head Tomonobu Itagaki resigned from the company and filed a 145 million yen ($1.4 million) lawsuit against Tecmo president, Yoshimi Yasuda, for "unpaid completion bonuses" and "emotional distress". This was followed by another lawsuit filed on the 16th of June by two plaintiffs on behalf of Tecmo's 300 employees for unpaid wages amounting to ¥8.3 million. Merger with Koei On August 29, 2008 Square Enix made plans for a friendly takeover of Tecmo by purchasing shares at a 30 percent premium with a total bid of ¥22.3 billion. On September 4, 2008 Tecmo officially declined the takeover proposal. Tecmo subsequently engaged in talks with Koei about a possible merger between the two companies, and agreed in November 2008 to merge on April 1, 2009 to form Tecmo Koei Holdings. On January 26, 2009 the two companies officially announced the merger, and the holding company formed on April 1, 2009 as planned. Tecmo initially continued to be operated as a subsidiary and brandname of Tecmo Koei Holdings. In January 2010, the United States subsidiaries of Tecmo Inc. and Koei America merged to create Tecmo Koei America Corporation. Tecmo was effectively declared disbanded in Japan on April 1, 2010, as