Warner Music Group Corp. said Monday that it has acquired a 70 percent interest in Japanese artist services company Taisuke.

The move is as part of a strategy to lessen the record label’s dependence on sales of compact discs, Chief Executive Edgar Bronfman said. Financial terms were not disclosed.

Taisuke “manages a number of artists on Warner Music’s label in Japan,” according to Bronfman said at a conference.

Shares in Warner Music closed up 8 cents to $10.95 in afternoon trading. Shares have lost more than one-third of their value since the middle of July.