Japanese mobile publisher Colopl’s U.S. branch plans to get into the VR game

Another mobile company is getting into the virtual reality game.

Colopl NI, the U.S. subsidiary of the Japanese mobile developer that has a revenue of $700 million a year, announced today that it plans to move into the developing virtual reality field. To do so, it has promoted former chief operating officer Jikhan Jung to chief executive officer. Investment bank Goldman Sachs predicts that the virtual and augment reality markets will grow into a $110 billion business by 2020. Colopl didn’t specify what platforms it plans to develop for, but the leading two in mobile right now are the Samsung Gear VR and Google Cardboard. Other notable mobile developers, like Angry Birds maker Rovio and Kim Kardashian: Hollywood creator Glu, also plan to move into the VR space.