×
You will be redirected back to your article in seconds

Asmik & Ace will merge

To be active in arthouse and mainstream circuits

TOKYO — Two Japanese production and distribution companies, Asmik Corp. and Ace Pictures., will merge in April to form Asmik Ace Entertainment Inc., company officials said on Monday.

The company will have capital of $7.3 million and be jointly owned by publisher Kadokawa Shoten Publishing Co. and trading firm Sumitomo Corp. Sumitomo has been active in cable television with its link to TCI, and Kadokawa is the leading independent film production company in Japan.

“The Sumitomo Kadokawa joint venture will produce feature films in Japan and the rest of Asia and expand both companies’ present theatrical distribution of mainstream English language, European and Asian motion pictures,” the companies said in a statement.

The new company plans to compete in both the arthouse and mainstream film circuits in Japan.

The new venture will be headed by Masato Hara of Ace Pictures, and Asmik’s Yasushi Shiina will take the post of managing director.

Asmik, a Sumitomo subsidiary, is known in Japan as one of the leading distributors of arthouse films, including “Trainspotting” and “Fargo.”

Ace, a Kadokawa subsidiary, teamed up with its parent company to make “Shitsurakuen,” the highest-grossing live action Japanese movie of 1997. The two have also recently finished filming “Fuyajo” (Sleepless City). The pic is based on the national bestseller from Kadokawa about the operations of the Asian underworld in Tokyo.

More Biz

  • Leslie Moonves

    Leslie Moonves Quietly Exits AFI and Paley Center Boards

    Leslie Moonves, the ousted CEO of CBS Corp. who has been accused of sexual misconduct by several women, is no longer serving on the boards of trustees of the American Film Institute and the Paley Center for Media. For now, Moonves retains his seat on the board of gaming company ZeniMax Media. The appointments on [...]

  • DOJ Indicts Five in Piracy Ring

    Department of Justice Indicts Five in International Piracy Ring

    Five men were indicted Wednesday on charges that they hacked into the servers of production companies, and stole hundreds of films and TV shows, including “50 Shades of Grey” and “The Walking Dead.” The men are based in four countries — the United Kingdom, the United Arab Emirates, Malaysia, and India. Only one has been [...]

  • Endeavor Sued Over Idaho Country Music

    Endeavor Sued Over Idaho Country Music Festival

    A former county official in rural Idaho sued Endeavor on Wednesday, alleging she is owed more than $190,000 in unpaid loans arising from a troubled country music festival. According to her complaint, Bonnie Layton was the economic development director for Elmore County, Idaho, when she came in contact with the organizers of the Mountain Home [...]

  • Former movie producer Harvey Weinstein (L)

    Weinstein Attorney: 'Many of These Women Have Lied'

    Harvey Weinstein’s attorney blasted the Manhattan D.A.’s office on Wednesday, arguing that prosecutors brought a flawed case in haste due to public pressure. Ben Brafman sent a letter to Judge James Burke, who is scheduled to hear a motion to dismiss the case next week. In it, he responded to Assistant D.A. Kevin Wilson, who [...]

  • 2019 Variety Predictions

    2019 Predictions: What's in Store for Film, TV and Music Next Year?

    It would be hard to top the drama of 2018. From media mega-mergers to the rise of Time’s Up, it was a year that had more than its fair share of twists and turns. Leslie Moonves resigned in disgrace, AT&T snapped up Time Warner, Disney inched closer to subsuming Fox and “Black Panther” shattered box [...]

  • Tencent Music Raises $1.1 Billion for

    Tencent Music Raises $1.1 Billion for IPO, Much Less Than Expected

    China-based music streaming company Tencent Music Entertainment Group said it raised nearly $1.1 billion in its U.S. initial public offering, according to Reuters. Earlier this year, the company was expected to be valued at as much as $30 billion and raise $4 billion for its IPO, but those estimates were slashed in September. The IPO [...]

  • Justin Tranter and Katie Vinten Partner

    Justin Tranter and Katie Vinten Partner With Warner Bros. for New Label

    As previously reported, hit songwriter Justin Tranter and Warner/Chappell Publishing’s Katie Vinten are launching a new label in partnership with Warner Bros. Records, the company announced officially today. In her new role, Vinten, most recently the company’s co-head of A&R, will also serve as an A&R Consultant to Warner Bros. Records and will continue with [...]

More From Our Brands

Access exclusive content