TOKYO — Japan’s aggressive film and media investment company Omega Project is launching an international fund with Stateside firms Apple Juice Prods. and United Insurance to finance entertainment content.
“This is the best way to tap international capital markets with a maximum return for investors,” Toyoyuki Yokohama told Daily Variety before flying to Los Angeles.
The structure of the fund is complicated: Through a Securities Investment Corp. (SIC) to be established, investments from international funds will reach Special Purpose Cos. (SPC). One SPC is to be established for each content project.
Omega picks projects
The Omega group of companies chooses the projects to be put up for investment by the SIC, advises the SIC on investments and generally lead-manages all funds, together with Basara Entertainment, the holding for all film and media companies under the Omega label, such as Omega Pictures and Omega Pictures Korea. United Insurance will follow up with partial guarantees for investing entities.
For starters, the two Singapore-based fund management companies Abacus Capital and Ferrell Asset Management, among others, will invest in the SIC. Aim is to have the SIC list on one or more major stock markets, with SPC-related projects and their stocks as major assets.
The first SPC-project is a remake of the popular, long-running animation series “Galaxy Express 999.” Up to seven feature films, initially mostly from Asian directors and production companies, are under consideration.
“In Japan alone, a lot of money is floating around, and more is to come,” said Yokohama.