Revenue: $961 million
Profit: $7.6 million
Leadership changes at the top of Toei in June heralded a generational shift in an attempt to produce the energy needed to adapt to a rapidly changing business environment.
In Toei’s case, former president Tan Takaiwa replaced chairman Shigeru Okada, while Okada’s son Tsuyoshi Okada, formerly managing director, took over as prexy.
Change is necessary, as Toei missed out badly on last year’s general box office bonanza as its top pics all underperformed although action drama “The Task of Hercules” found B.O. success.
The group’s net profits were down some 90% from last year’s results and more in line with Toei’s usual performance.