Innovation Network Corporation of Japan, a semipublic body tasked with enhancing the value of the nation's businesses, announced Monday it will establish a new firm to remake existing domestic "soft" content, including movies, "anime" (animation), TV dramas and songs, to sell them to Hollywood, aiming to increase revenue.
The new company, All Nippon Entertainment Works, will debut in October with offices in Tokyo and Los Angeles and have ¥6 billion in funds that INCJ will invest.
Japan's various soft contents "are not marketed very well in overseas markets. Even when they become globally popular, those successes don't really connect with the domestic business and industry," said Keita Nishiyama, INCJ executive managing director.