Toei Animation, the Japanese studio behind the Dragon Ball, Slam Dunk and One Piece anime franchises, is planning to open a European office in Italy. This could be followed by others in Latin America and India, as well as an increase in its international production.
The group already has a handful of overseas regional offices covering Asia, the Americas and Australasia, as well as Europe, the Middle East and Africa (EMEA). But the group believes there is more business to be had in the lucrative European market, which the Italian office would serve.
Speaking at an event at TIFFCOM, the three-day rights market that coincides with the Tokyo International Film Festival. Executive Shinohara Satoshi said: “At times this has been a contrarian approach. We appreciate the responsiveness and speed you get with local offices.”
He explained that having a sales function in India was hugely important and that one in Mexico, serving Latin America, was a “game changer”.
Shinohara explained that the once inward-looking Japanese giant has gained a better understanding of international markets, their appetite for anime content and the ability to localise and re-use its IP.
Its international revenue has risen from less than 20% in 2012 to more than 60% by 2021. “The bigger the addressable market, the bigger the potential for content investment,” says Shinohara.
Group revenue last year was $658 million. But with much of that in the form of fees, profit margins are high. It reported a net profit of $157 million.
He said the group was learning from its mistakes and would not give up on “contrarian” or difficult bets. These include its excessive financial commitment to last year’s live-action adaptation of Toei Animation’s “Saint Seiya” anime franchise, which Shinohara described as a “spectacular failure”.
Other international film projects in the works include “Le College Noir” with France’s La Cachette, another with Studio N in South Korea and “Hana no Ko Lunlun”, a Chinese production with Tencent Video. This week she also announced her involvement in the Philippines-produced “Solemn Vow”.
