We are pleased to announce that TEAM JOY CO., LTD. (Head office: Shibuya-ku, Tokyo; President and CEO: King Bai; hereafter referred to as “Team Joy”) has entered into a business partnership, including Series A financing, with Bushiroad Inc. (Head office: Nakano-ku, Tokyo; President: Yoshitaka Hashimoto; Securities Code: 7803; hereafter, “Bushiroad”).
Bushiroad is engaged in planning and developing TCG and digital games, the planning and production of animation, and providing production services.
Business Overview of Team Joy
Team Joy is a company that aims to be one of the largest Japanese operators of foreign animation content in Japan.
We have distributed numerous foreign animated films such as “The Legend of Hei,” “White Snake,” “New Gods: Nezha Reborn,” and “Mini Mame-chan,” as well as live-action films such as “The Crossing” and “Detective Chinatown 2,” which won numerous domestic and international awards.
In film production, we have opened up a new entertainment market by producing and cooperating in filming ” Detective Chinatown 3″, shot on location in Japan, which ranked 6th in worldwide box-office revenue for 2021. In addition, we are also investing, planning, and producing an animated film, “Blue Thermal” (distributed by Toei), which was released this year, 2022. We are also planning and producing other Japanese movies.
Purpose of the Partnership
Team Joy aims to develop new businesses and expand its existing businesses by raising its first Series A financing with the goal of an Initial Public Offering.
Team Joy and Bushiroad will effectively utilize both companies’ management resources and management know-how to work together to create new businesses and new IPs on a global scale.
Outline of the Partnership
- Team Joy aims to become one of Japan’s leading foreign ACG management teams based on the fusion and exchange of domestic and foreign cultural industries.
By expanding the scope of collaboration, we will further grow our overseas development of excellent Japanese IPs, including remarkable content owned by Bushiroad Group. We also plan to develop and expand new overseas content for the Japanese market.
Through our collaboration with Bushiroad, we intend to expand our business in the growing Asian market.
- Bushiroad Group’s general strategy is to be an IP developer, developing various businesses such as animation, games, music, events, and merchandising based on its IPs. Through this capital and business alliance, the two companies intend to effectively utilize their respective management resources and know-how to jointly create new businesses and IPs globally.
Comments from Representatives of Each Company
Takaaki Kidani, Chairman and CEO, Bushiroad Inc.
In the past, Japan led the world in the entertainment industry, including animated films and games. However, in recent years, IPs from overseas have penetrated the Japanese market and become so influential that are comparable to domestic IPs. Our concern was confirmed with our joint project Team Joy, the animated film White Snake.
The high-quality 3DCG graphics depicted the characters’ facial expressions, emotions, and even a single hair with extreme delicacy. I was amazed to see that Chinese animation technology has already achieved such a high level.
In the highly competitive entertainment industry, it is crucial to develop IP not only based in Japan but also with global viewpoints. This time, we decided to form a strategic alliance with Team Joy, with a particular focus on China, a country with great potential, production capacity, and influence.
Through our alliance, Team Joy will bridge between Japan and China, importing IP from China and design and deliver culture adaption in Japan, so that we can deliver more content than ever before for everyone to enjoy.
At the same time, it will be a great opportunity for us to promote our IPs in China and make the Bushiroad known to a wider audience on a global scale.
The power of Team Joy and Bushiroad will create a powerful synergy and generate a new business. I am confident that we will be able to breathe new life into the entertainment industry.
BAI Jin, President and CEO, Team Joy Co., LTD.
“The relations between nations are in the fellowship of peoples, and the fellowship of peoples is in the bonds of hearts.”
The world today is a tumultuous place, as recent events have shown.
We are experiencing social fragmentation due to polarization, dramatic changes in lifestyles, and interpersonal conflicts.
What is the best solution to these problems?
Only through connectedness, do we humans find ourselves attached to the rest of the world.
The demands of the times for COMMUNICATION will become even more significant.
Entertainment is a vital bridge between Japan and the rest of the world.
The year 2019 marks a new era of distributing international content in Japan.
In the same year, many foreign animated films were released, such as the Taiwanese animated film On Happiness Road and the French animated film Long Way North, and our distribution of The Legend of Hei received warm support and was watched by a wide range of audiences / gained huge followings.
We are very fortunate to have had the opportunity to work with Chairman Kidani, who is a world-renowned figure in the industry. Thanks to his kind support, White Snake has greatly received at the box office.
As domestic market growth slows, it comes as no surprise that many companies are branching out into the global market. With this investment, in addition to our current business of importing the best content from all over the world to Japan, we will work hard every day to provide a unique stage for young creators to launch themselves into the world.
Team Joy aims to become one of the largest foreign ACG (anime, comic, and game) management teams in Japan and become a transmission source to distribute localized content internationally.
Bushiroad has been making great strides overseas with its strong frontier spirits, such as the live content of New Japan Pro-Wrestling and the development of card games. We are determined to follow the example of Bushiroad. Together, we are bound to strengthen further communication between Japan and the rest of the world.
Lastly, our slogan and the most important thing for us is “Creating content that you are in.” We always try to listen to our customers, both in Japan and overseas/ both domestic and international, and provide them with content that enriches their lives as much as possible.