P.M. BRIEFING : Japanese Investors Enter Joint Film Venture With Walt Disney
Japanese investors have entered a partnership with Walt Disney Co. in which they will invest $50 million to $75 million to finance four or five Hollywood films, it was announced today.
Nomura Babcock and Brown Co. Ltd., owned 80% by Japan’s Nomura financial services group, will invest the money in the venture, with Walt Disney contributing an equal amount, NBB General Manager Akira Osawa said.
“We want to produce profitable films that can sell everywhere in the world, such as comedies and action movies,” Osawa said.
The partnership plans to make the films over a period of seven years, starting in December.
The films will be made by Los Angeles-based Interscope Communications Inc., which made “Cocktail” and “Three Men and a Baby.”
NBB said it will raise its contribution by collecting funds from institutional investors in Japan. It will share profits from the films equally with Walt Disney.
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