TOKYO — Talent shop Index Casting has received a Y25 million ($205,000) fund injection from the TBS net through a third-party allocation of new shares, the companies have revealed.
Half of the coin, which was transferred by the end of June, was added to Index Casting’s capital, raising it to $1.1 million and making TBS a 9.43% shareholder.
One object of the injection is the YoroZoo community site that Index operates. Another is the development of music programming for the Web using both TBS TV and digital radio contents.
Launched a year ago by Index, the YoroZoo site scouts and nurtures new talent. It features 2,000 artists and groups as well as 4,500 tunes.
Index Casting was launched in September 2005 as a joint venture between Index, Tanabe Agency (T’s Music), Gentosha and TBS Radio.
Established in 1995, Index Holdings is a major player in Japan’s mobile communications market, with interests in pics and other visual media businesses. Among its group companies are the Nikkatsu studio and the Madhouse toon house.