Japanese satellite operator Sky Perfect JSAT is to spin out its subsidiary that broadcasts Japanese content overseas and expand the business globally.
Under the plan, a new company Wakuwaku Japan would be established on 1 May 2015 and then spun out from…
Japanese satellite operator Sky Perfect JSAT is to spin out its subsidiary that broadcasts Japanese content overseas and expand the business globally.
Under the plan, a new company Wakuwaku Japan would be established on 1 May 2015 and then spun out from Sky Perfect on 1 July.
To enable the company to grow, Sky Perfect intends to carry out a capital increase by way of a third-party allotment of shares on 1 July. Sky Perfect will invest Y6.57bn (US$55m) in Wakuwaku, while Cool Japan Fund, a government-owned investment fund focussed on promoting Japanese products abroad, will invest Y4.4bn (US$36.36m).
On completion, Sky Perfect will own 60% and Cool Japan 40% of the new company.
The Wakuwaku channel was first launched in February 2014 and over the past year has been broadcasting Japanese content to audiences in Indonesia and Myanmar.
Sky Perfect said that since its launch, the company has confirmed that there is overseas demand for Japanese content and now wants to expand the business into 22 countries worldwide by 2020.
