Newly announced company All Nippon Entertainment Works Co Ltd (ANEW) will become Japan’s primary seller of remake rights for films and other content upon its planned launch this October.

ANEW aims to boost profits earned from Japanese content in the global market by working directly with Hollywood studios and other film industries to adapt local stories and characters for movies with international appeal. The company will open offices in both Tokyo and Los Angeles.

The company will not only function as a rights sales representative but also offer direct financial and operational support for approved projects. Earning a percentage of ancillary market profits from TV, games, books and merchandise will be key.

ANEW was set up by the Innovation Network Corporation of Japan (INCJ), which announced a 100% equity investment of $78.3 million (Y6b) earlier this week.

Content producers announced as the first wave of “collaboration partners” with ANEW include Asmik Ace Entertainment, Dentsu, Fuji Television, Mitsubishi, Nikkatsu, Production I.G, Toho-Towa, Tokyo Broadcasting System and Tomy. Stories and characters to be developed will be sourced from movies, animation, novels and manga, TV programming, games and toys.

INCJ was established in July 2009 through a combination of government and private sector funding to invest in Japanese innovation across different industries following Ministry of Economy, Trade and Industry (METI)support guidelines.