Toho Invests in International Subsidiary in America
posted on by Rafael Antonio Pineda
TOHO announced on Wednesday that it invested a substantial amount of funds to its Los Angeles-based TOHO International subsidiary on March 5, with the company's 1.383 million shares now amounting to a 15.446 billion yen (about US$138 million) worth, a massive increase from the company's previous 3,000 shares.
The investment is part of TOHO's "TOHO Vision 2021" mid-term management plan that involves foreign co-productions and character business in foreign territories. The plan involves partnerships with major Hollywood production companies, involving Japanese content, including the upcoming Godzilla: King of the Monsters and Pokémon Detective Pikachu films.
TOHO established the TOHO International company in 1953, but the company has mostly been involved in real estate, and the company has only earned a total of US$12,000 in the past three years.
TOHO recently invested in SC Digital Media's AlphaBoat content creation company last June.