Duo team in content provider
TOKYO — Intel Capital, Intel’s strategic investment arm, and Yoshimoto Kogyo, Japan’s biggest comic talent shop, have invested in Faith, a content provider for mobile devices and PCs, Faith announced in a statement Monday.
The three companies already cooperate, through joint venture Bellrock Media, in the creation of entertainment content using Intel’s Viiv standard. With the injection of new coin, Intel Capital will have a 2.6% stake and Yoshimoto a 1.5% stake in Faith.
Through Bellrock, Faith plans to cooperate with Yoshimoto on sales of music and entertainment CDs and DVDs, as well as transmission of entertainment content to PC users based on Viiv technology. It also will develop, produce and distribute entertainment content making use of Yoshimoto’s branding and know-how.
To further strengthen its ties with Yoshimoto, Faith has taken a 12.4% stake in Yoshimoto Group service provider Fandango. Meanwhile, Yoshimoto has agreed to buy a 4.6% stake in Giga Networks, a Faith Group content provider that plans to broadcast content featuring Yoshimoto talent to mobile device users.
Launched in 1992, Tokyo-based Faith is listed in the First Section of the Tokyo Stock Exchange. Its total capitalization is ¥3,218 million ($27 million). For the fiscal year ending in March, Faith project consolidated sales of $370 million, with a total loss of $13.5 million, mostly due to red ink from its content biz, both in Japan and abroad.