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Toei Animation Exchanges Venture for Subsidiary

Japan's largest animation studio, Toei Animation, will turn its Hong Kong joint venture into a wholly-owned subsidiary, per VARIETY.

Toei will buy the shares of Toei Animation Enterprises from its local partner, Animation Intl., a content production company based in Hong Kong.

Last week, Tokyo-based animation house GHD also announced plans to expand into China, with a specialty channel that will broadcast cartoons into China via the Internet and TV. Dedicated to anime, the channel is called Gonzo and will be on a demand service provided by Chunghwa Telecom Co.