The Nihon Keizai Shimbun Co. said Toho and Tokyu Land will replace Toei and Nippon Flour Mills in its prestigious Nikkei 225 stock average, as of Oct. 2.
The reshuffle reflects several factors, including the changing B.O. fortunes of Toei and Toho: The former struggled in recent years as the latter scored hit after hit.
From January to July, Toho releases, including smash disaster pic “The Sinking of Japan” and sea thriller “Umizaru 2,” earned $324.4 million. That’s up 22.6% from the same period of 2005, making Toho by far the leading distrib, domestic or foreign.
In fiscal 2005 Toho’s sales amounted to ¥103,475 million ($892 million), compared with Toei’s ¥66,322 million ($571 million).
Tokyu Land subsidiary Tokyo Recreation operates 19 theater sites with a total of 99 screens, including downtown Tokyo’s 1,064-seat Milano 1, the biggest house in the country.