DLE Sells Shares of Coyote Joint Venture to Toei
posted on by Rafael Antonio Pineda
DLE Inc. announced on March 30 that it is selling its shares of the Coyote joint venture to its co-shareholders Toei and and Toei Animation Music Publishing. The sale will involve a transfer of 44 million yen (about US$394,800), and DLE will record an extraordinary loss of 24 million yen (about US$215,300) for its third quarter earnings ending in June.
Toei, Toei Animation Music Publishing, and DLE Inc. established the joint venture Coyote in 2017 to plan and produce original anime for Japan and other Asian markets. Toei has a 34% investment in the company, and both Toei Animation Music Publishing and DLE have 33% investments in the venture.
Japan's Securities and Exchange Surveillance Commission reported in February that Japan's Financial Services Agency fined DLE 135.4 million yen (about US$1.22 million) for violating Japan's Financial Instruments and Exchange Law after the company reported inflated sales from falsified transactions.
DLE is perhaps best known for its work on the Eagle Talon anime franchise. The studio's other anime include Sword Gai: The Animation, Ore-tacha Yōkai Ningen, Thermae Romae, Haiyoru! Nyaru-Ani, Glass no Kamen Desu ga, Hakuōki: Otogisōshi, and Insufficient Direction.
DLE also partnered with Chinese film company Shanghai Griffin Film Corporation in 2016 to produce new creative projects in both Japan's and China's animation industries. DLE established an American branch in 2012.