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TYO to Acquire Ultraman Production Group
 

Tokyo, Sept 12, 2007 (Jiji Press) - Media company TYO Inc. <4358> said Wednesday it will acquire an 80 pct equity stake in Tsuburaya Enterprises Co., which owns the production company for the "Ultraman" hero series.

Tsuburaya Enterprises is set to issue new shares worth 80 million yen for allotment to TYO with payments due on Oct. 17. The company, at the same time, will lift its stake in Tsuburaya Productions Co., the producer of Ultraman films, television programs and character goods, to 68 pct from 45.5 pct.

With the deal, Tsuburaya Productions hopes to turn around its flagging business with the help of TYO executives.

TYO, which controls many production companies, aims to make use of the Ultraman series content to expand its sales, its officials said.

By Jiji Press, (c) Jiji Press

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