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Toei turns venture into subsidiary

Company to buy shares from partner

Toei Animation, Japan’s biggest toon production house, will turn its Hong Kong joint venture into a wholly owned subsidiary, the company has announced.

Toei will buy the shares in the subsid, Toei Animation Enterprises, from its local partner, Animation Intl., a Hong Kong-based contents production company.

More Japanese toon companies are expanding their presence in China. On Friday, Tokyo-based toon house GHD will begin beaming toons in China via the Internet and TV in association with Chungwha Telecom. Called Gonzo Channel, specialty channel will offer GDH-produced toons with Chinese subtitles.

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