Tohokushinsha, a leading distributor of foreign films to the Japanese television market, with interests in theatrical film production and distribution, will list its shares on the Jasdaq market on October 8.
According to the announcement made by the Japan Securities Dealers Association, the company will make an initial offering of 6.2 million shares, of which two million are new issues and the remainder privately held. The lead underwriter of the issue, Mitsubishi Securities will carry out book building for the shares from September 20 to 27 and announce the offering price on September 28.
Founded in 1961 by Chairman and CEO Banjiro Uemura, Tohokushinsha was a pioneer in buying foreign TV programming, including films, for television broadcast in Japan. Today, in addition to distributing to terrestrial stations throughout the country, Tohokushinsha operates seven satellite broadcasting channels, including the all-film Star Channel.
The company has also moved aggressively into film production, with recent titles including the long-running cult favourite Party 7, and distribution, including the arthouse hit The Virgin Suicides. The upcoming line-up features Jay And Silent Bob Strike Back and Invincible.
In the 2001 fiscal year, ending last March, Tohokushinsha recorded a parent-only pre-tax profit of $15.7m (Y1.86bn) and net profit of $491,525 (Y58m) on earnings of $456m (Y53.8bn).