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.