Toho, the Japanese maker of the “Godzilla” film franchise, will acquire the U.S. distributor of Studio Ghibli’s famed animated films, it said Wednesday, to help fuel its overseas expansion.
The acquisition comes amid a surge in the global popularity of Japanese entertainment and fits into Toho’s multi-year growth strategy focused on animation and overseas markets.
New York-based GKIDS, which distributed Ghibli’s Oscar-winning “The Boy and the Heron,” will become a wholly owned subsidiary of Toho following the deal, terms of which were not disclosed in statements from either company.
“We are truly thrilled to join forces with the esteemed and legendary Toho,” GKIDS, which has distributed 13 Oscar-nominated animated films, said in a statement, citing founder Eric Beckman and president Dave Jesteadt.
Toho’s own “Godzilla Minus One,” a hit in overseas markets, won an Oscar for visual effects in March, while “Shogun,” a historical epic filmed largely in Japanese, won a record number of Emmy Awards for a single season last month . of drama.
Japan last month set up a committee to promote its entertainment industry, which was worth ¥12.9 trillion ($86.43 billion) in 2021 and ranked third globally after the United States and China, the cabinet said.
GKIDS manages the film catalog of Ghibli, the studio of renowned Japanese director Hayao Miyazaki, in North America.
In March it signed a deal with Warner Bros. Discovery to expand U.S. streaming rights to Ghibli films.
