Transfer of Toshiba Entertainment Inc. Interests
TOKYO--Toshiba Corporation announced today that it has agreed to transfer its interest in Toshiba Entertainment Inc. (Toshiba Entertainment) to Hakuhodo DY Media Partners Inc. (Hakuhodo DY Media Partners). Effective May 1, 2007, Toshiba Entertainment will become a wholly owned subsidiary of Hakuhodo DY Media Partners.
Toshiba Entertainment is a film production and distributor that acquired Amuse Pictures, Inc. in 2003.
Toshiba Group is optimizing allocation of management resources through a strategic policy of “Focus and Concentration,” with the objective of maximizing corporate strengths and potential for growth and profit. Following discussions of Toshiba Entertainment’s film production and distribution business, and consideration of how best to secure the company’s interests over the long term, Toshiba decided to transfer its 100 percent interest in the company to Hakuhodo DY Media Partners.
Toshiba has reached an agreement with Hakuhodo DY Media Partners that will assure the continued development of Toshiba Entertainment’s current film production and distribution business, while drawing on the know-how and capabilities that Hakuhodo DY Media Partners has cultivated over 30 years of experience in the content business.
In its future business in media content, Toshiba will concentrate resources on network technology, broadcasting and telecommunication technology, and digital media products that can create a synergy with fields where the company already has established strengths.
Outline of Toshiba Entertainment Inc.
Representative director:: Tetsuya Kato
Address: Cerulean Tower, 26-1 Sakuragaoka-cho, Shibuya-ku, Tokyo
Date of establishment: Oct 16, 1990
Film production and distribution; sales of video and DVD (animated movies, TV series, and films); sales of broadcasting rights for films, animation, and TV series
Capital: 490 million yen
Shareholders and holdings: Toshiba Corporation: 100%
Notable titles: The Pianist; FINDING NEVERLAND; The Brothers Grimm; My sister, my love
Outline of Hakuhodo DY Media Partners Inc.
Representative director: Takashi Sato
Address: Shiodome City Center,5-2, Higashi Shinbashi 1- chome, Minato-ku, Tokyo
Date of establishment: Dec 1, 2003
Media and content business
Capital: 4.5 billion yen
Shareholders and holdings: Hakuhodo DY Holdings Inc.: 100%
sponsorship, distribution) Crying out Love in the Center of the World; Be with You; Love and Honor; Tales from EARTHSEA; M : i : III,
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.