Japanese media conglom agrees joint venture
TOKYO — Japanese media conglom Kadokawa Group Holdings plans to set up a Chinese joint venture to expand its presence in the Chinese market for comics, toons and novels.Kadokawa’s wholly owned subsid, Kadokawa Holdings China, will launch Guangzhou Tianwen Kadokawa Animation and Comics in May together with local toon and comics producer Hunan Tianwen. Hunan Tianwen will supply 51% and Kadokawa 49% of the $4.3 million start-up capital. Hunan Tianwen is a member of the Zhongnan Publishing Media Group, China’s largest publishing group. Guangzhou Tianwen Kadokawa will engage in a range of entertainment businesses, including the production of manga and anime, as well as the localization of Kadokawa content. Kadokawa has had success with a similar joint venture in Taiwan, and is now ready to expand its biz on the mainland, which has been a tough market. Kadokawa is a Tokyo-based publisher with a wide range of media interests. Among its group members are Asmik Ace Entertainment and Kadokawa Pictures, both of which produce and distrib pics in Japan.