Veteran Japanese film producer Muneyuki Kii has launched a bold new venture to shake up Japan's traditionally sclerotic and risk-averse approach to film financing. The director, formerly chief producer at Tokyo-based studio Toei, on Thursday unveiled the launch of K2 Pictures, a mini-studio that aims to offer the Japanese industry a more direct, Hollywood-style model of film financing.
The new company will launch a content fund – called the “K2P Film Fund I” – to finance both live-action and animated Japanese feature films. K2P has also lined up an impressive roster of Japanese directors to work with on the first slate, including Palme d'Or winner Hirokazu Kore-eda (Shoplifters), local industry mainstay Takashi Miike (Ichi the killer, 13 Murderers), Shunji Iwai (Love letter), Nishikawa sugar cane (To wave), Kazuya Shiraishi (The Devil's Path), and leading anime studio MAPPA, known for mega hits like JUJUTSU KAISEN 0 And Attack on Titan.
Kii will serve as CEO of K2P, while other senior leaders at the launch include Tetsuro Koda, co-founder of Japanese gaming and comics publisher Akatsuki, and Fred Schmidt, chairman of Japanese publishing company Akatsuki. Asia for investment management company BentallGreenOak. Kii spent more than 25 years at Toei producing both live-action and anime films. Some highlights include: Hideaki Anno's Evangelion: 3.0 You (can't) do it again And Shin Kamen riderTakehiko Inoue's The first slam dunkIwais Kyrie and Miike's First loveamong many others.
For decades, most Japanese films have been made under the country's so-called “production committee” system, in which a group of film companies, TV stations and publishers (often as many as ten entities) work together to co-finance a project. While the system is an effective means of reducing financial risk for established industry participants, it has long been the subject of criticism for the way it stifles creative risk-taking, limits outside investment and reduces the bargaining power of artists decreases.
“We are trying to create a new method, developing this film ecosystem into one of the 'film production funds', following an approach used in Hollywood and around the world,” K2 Pictures said in a statement. “This new film ecosystem that K2 Pictures focuses on will enrich film production by returning the profits that traditionally accrue to traditional film companies to both investors and creators.”
The company's launch comes at a time when many analysts are becoming optimistic about the growth of Japan's entertainment sector International potential. The company's fund will provide investors in Japan and abroad with a new opportunity to participate in high-profile Japanese entertainment projects.
“With the launch of K2 Pictures, we aim to revolutionize the Japanese film industry while giving new domestic and foreign investors the opportunity to enter this booming industry,” said Kii. “It is clear that there is a growing interest in Japanese-related content worldwide, so we are committed to making our local film industry more active, fair and profitable in the global marketplace, while also building a robust content pipeline that promises to captivate audiences. ”
On the occasion of the launch of the company and the fund, K2 Pictures will provide a presentation in the near future Cannes Film Festival. The event will take place on May 18 at 12:45 PM at the JW Marriott hotel, including performances by Miwa Nishikawa and Takashi Miike.