Publishing house Kadokawa Holdings Inc. said Wednesday it will obtain a stake of about 43 percent in Nippon Herald Films Inc., putting the movie distribution company under its control.
Kadokawa-Daiei Pictures Inc., a Kadokawa group firm, will spend 3.05 billion yen on purchasing 16,500 new shares, or a 43.28 percent stake, that Nippon Herald will issue in late March, making it the largest shareholder, Kadokawa said.
The deal is aimed at allowing the Kadokawa group to expand its movie business operations, including cinema complexes and foreign movie procurements, company officials said.