Tokyu Recreation to share profits, costs
Imax and exhib Tokyu Recreation have inked a deal to build four Imax theaters in Japan.According to the deal, announced Thursday, Tokyu will open the first Imax theater in Kawasaki, near Yokohama, in November and the second in Shobu, near Tokyo, in early 2009. The remaining sites have yet to be decided. The partners will share costs and profits while consulting each other on sites and other matters. Both Imax theaters will be located in existing Tokyu multiplexes, which operate under the 109 Cinemas label, and will use state-of-the-art Imax projection systems. Tokyu Recreation operates 15 complexes in its 109 Cinemas chain, as well as nine stand-alone theaters. In addition to theater management, the company is engaged in sports and leisure and real-estate leasing. Well established in Japan, Imax recently made news with the Japan premiere of “Speed Racer” for an aud of 25,000 in Tokyo Dome, which viewed the pic on a specially constructed Imax screen.