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New Japanese Film and Anime Company To Be Established

The Innovation Network Corporation of Japan (INCJ) is setting up a new company to plan and produce Japanese anime and films, then distribute them internationally. The company's purpose is to identify works and ideas with potential, sell the rights for film adaptations, and produce film or anime adaptations for some of the works. The company also aims to boost the world competitiveness of Japanese anime and films.

The new company will recruit experts from Hollywood and seek their expertise in production and distribution. It will also co-produce films and anime with Hollywood partners, aiming to produce about 10 box-office hits in its first five years.

The company also plans to investigate distribution channels for films and anime abroad, including in emerging markets.

According to The Daily Youmiuri newspaper, "the purpose of producing, selling and even exporting movies and anime stories from a base in Hollywood is to compensate for a lack of relevant expertise in the Japanese filmmaking and anime content industries." In particular, Japan's Economy, Trade and Industry Ministry claims the prices of films and anime are often "beaten down," reducing their profit to Japanese businesses and creators.

INCJ will invest about 5 billion yen (about US$63.48 million) into the new company, which could be set up as early as this summer. The company will have offices in both Japan and the United States.

Source: The Daily Yomiuri