TYO Transfers More Ownership of Tsuburaya to Bandai
posted on 2009-07-23 10:03 EDT by Egan Loo
The Japanese conglomerate TYO has announced on Thursday that it is transferring 15.6% of its consolidated subsidiary Tsuburaya Productions — of Ultraman fame — to another Japanese conglomerate, Bandai. In addition to creating and managing the live-action Ultraman special effects franchise for over four decades, Tsuburaya also produced several Ultraman spinoff anime, Gun Frontier, Cosmowarrior Zero, Babel II - Beyond Infinity, and other works.
TYO acquired full ownership of Tsuburaya from its namesake family in October of 2007, but it then sold a 33.4% stake to Bandai for 900 million yen (about US$9.54 million) in January of 2008. By adding 15.6% this year, Bandai will own 49.9%, while TYO will still retain majority ownership at 50.1%.