Nippon Television acquires iconic animation company Studio Ghibli
By Kosaku Narioka
Nippon Television Holdings shares (JP:9404) rose sharply Friday morning following its plan to acquire shares in Studio Ghibli to make the animation powerhouse a subsidiary.
The shares were recently 12% higher at 1,544.0 yen ($10.46) after rising as much as 22% earlier.
Nippon Television said Thursday after market close that it would become the largest shareholder of the studio behind "Spirited Away" and other popular anime movies, holding 42.3% voting rights, and would send directors to the board of Studio Ghibli to support its management.
Nippon Television's Senior Operating Officer Hiroyuki Fukuda will become president of Studio Ghibli, the company said.
Succession plans at Studio Ghibli, founded by well known Japanese animator, filmmaker, and manga artist Hayao Miyazaki, have been an issue. Miyazaki is 82 years old.
The Japanese media company said it would respect the studio's autonomy in the production of films.
It plans to buy shares of Studio Ghibli from individual shareholders for an undisclosed sum.
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
09-21-23 2130ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
Should Emerging-Markets Stocks Stand Alone in Your Portfolio?
-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
3 Dividend Stocks for October 2024
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued