Yuzu Films plans to release first pic in 2009
TOKYO — Yasuhide Uno, prexy and CEO of media conglom Usen, has launched a new pic production company, according to Japanese press sources. The prexy is former Gaga Communications’ prexy Nichho Marushige.
Uno is underwriting the company, called Yuzu Films (phonetic) with an initial investment of $2.3 million from his own fortune. The initial eight staffers are from Usen group company Gaga, which in April announched its withdrawal from the pic production, acquisition and distribution biz. Yuzu plans to release its first pic in 2009. It also intends to become involved in pic acquisition
A Gaga rep said that the new company and Gaga “are completely separate entities” and that press reports that Gaga will transfer some of its business
functions to Yuzu are “have no basis in fact.”