Movie Television, a leading seller of Hollywood films and TV programs to Japanese television, will list its shares on the Jasdaq over-the-counter market on December 13.

Launched in 1984 by current president Kenichi Morohashi, the company has output deals with 20th Century Fox, Paramount, Warner, MGM and Universal. It earns 70% of its revenues from sales of film rights to terrestrial, satellite and cable TV.

This fiscal year the company expects pre-tax profits to soar 320% compared with the previous year, to $ 5.5m (Y680 million), primarily because of an exclusive rights deal it signed with Universal. Sales are also projected to rise 36%, to $61m (Y7.47 billion)

For its IPO, Movie Television will list 2,000 shares, with an offering price of $3,658 (Y450,000) per share. The lead manager is Nomura Securities. Currently capitalised at $14.4m (Y1,768 billion) the company intends to use the funds raised to underwrite more film rights acquisitions.

Among Movie Television's other businesses are video rights sales, film promotion and the production of Japanese-language versions of Hollywood films at its two studios in Tokyo. It also manages the Hollywood Channel movie information site for the popular i-Mode mobile phones.