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Tokuma president discusses Financial Status of Tokuma

posted on 2001-03-07 19:32 EST
Despite heavy dept, and many operation cuts, Studio Ghibli will not be affected

Speaking with Nippon Keizai Shimbun ("Japan Economic
Newswire") in an interview published on March 8th, Matsushita Takeyoshi, the new president of Tokuma, announced the sale of several divisions in order to cut the company's 100 billion yen (US$840 million)debt, which includes a 5 billion yen operating deficit for the 1999 fiscal year. He said that it should take the company 4-5 years to pay off its debt.

Tokuma has already sold its Direct TV assets, as well as cut back its operation in BS and CATV. Their movie division, Daiei will also suspend all major production for a while.

On the other hand, Tokuma is launching 3 new magazines geared towards female students and middle
aged people. And most importantly to Anime fans, Tokuma will not be selling Studio Ghibli. It is expected that Ghibli will turn a profit with Miyazaki's latest film, Sen to Chihiro.

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