Crimson Phoenix, the M&A advisory firm specialising in Japan-related cross-border transactions, announces that it advised a listed Japanese media conglomerate on its strategic expansion in the European market through the establishment of a joint venture with a French media group specialising in Franco-Belgian comics. This partnership, which was formalised on 25th January, 2024 and completed on 1st October, 2024, will see the creation of a new company which will be 51% owned by the Japanese company and 49% by its French partner. It will initially focus on publishing translations of Japanese manga, light novels, Korean works, etc., for Francophone markets. It will also explore creating comic versions of European works.
Both Crimson Phoenix’s Japanese client and its French partner will remain anonymous. The size of the transaction is undisclosed.
This deal marks the second transaction in the manga and anime market for Crimson Phoenix in recent years. In 2022 the firm was part of the team advising the shareholder of Right Stuf, Inc. on its sale in a structured auction. The company is the largest dedicated U.S. e-commerce platform, including distribution and production, of anime consumer products, offering exclusive and limited edition media, collectibles, figurines, audio, books, apparel, and art to casual anime consumers as well as enthusiasts and collectors in more than 130 countries around the world. It was acquired by Crunchyroll for an undisclosed sum.