In-game advertising company DoubleFusion has raised an undisclosed amount of funding for its Japanese subsidiary. The financing was provided by Tokyo-based Sedona Capital and is intended to support Double Fusion’s Japanese expansion efforts. Sedona participated in the San Francisco-based company’s $26 million second funding round (which began with a $5 million tranche in July 2006) that was completed last December. DoubleFusion raised a previous $10 million in 2005.

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The company cited two reasons for its desire to heighten its Japanese profile. One is that Japan is home to 20 of the world’s top video game publishers, which includes Nintendo and Sony. The other reason, Double Fusion said, is that Japan is the world’s second largest advertising market. Over the past few months, Double Fusion, along with other independent in-game advertising providers, has been the subject of speculation as a potential acquisition target.Release