Cool Japan Fund Makes Additional $3.6 Million Available to Sentai Holdings

AuthorOctober 18, 2020

Cool Japan Fund, the public-private firm that the Japanese authorities employs to fund tasks as a part of its “Cool Japan” program, introduced on September 30 that it and Sentai Filmworks CEO John Ledford are making further funds obtainable to Sentai Holdings, LLC — the dad or mum firm of Sentai Filmworks, HIDIVE, and Anime Network. The Japanese model of the announcement acknowledged that Cool Japan Fund is making 3.6 million {dollars} (400 million yen) obtainable to Sentai Holdings, LLC, and Ledford himself can be making further funds obtainable.

The fund invested US$30 million in Sentai Holdings, LLC in August 2019.

The announcement on September 30 acknowledged that Sentai Holdings, LLC “recorded better financial results in 2019 than in the previous year,” and is planning to implement measures with a objective of medium- and long-term development. The assertion additionally added that the corporate is making “strategic and operational changes” to adapt to the coronavirus illness (COVID-19) pandemic and “uncertainties of the worldwide
market for leisure content material.” Sentai Holdings, LLC also plans to use the funds to “stay aggressive regardless of macro financial challenges” and strengthen its on-line enterprise.

Cool Japan fund appointed Naoki Kitagawa as the corporate’s new CEO in June 2018.

Nikkei reported in November 2017 that Cool Japan Fund Inc. was underperforming in a lot of its investments, specifically tasks that have been spurred by enterprise ties from firm’s management, together with earlier CEO Nobuyuki Ota and Chairman Kazunobu Iijima.

“Cool Japan” is a program supported by the Japanese authorities and varied corporations that promotes trendy Japanese tradition akin to anime and manga overseas. The program revolves across the premise that Japan’s power in enterprise and worldwide affairs lies in anime, manga, movies, style, and different fields of Japanese arts and leisure content material.

Sources: Cool Japan Fund (hyperlink 2), Animation Business Journal (Tadashi Sudo)

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