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Japan

Feb 1, 2005

Itochu and Time Warner to produce cartoons

TOKYO - Itochu Corp and Time Warner Inc group firm Turner Broadcasting System Inc have agreed to jointly produce Japanese animated cartoons and market related merchandise, The Nihon Keizai Shimbun learned.

To this end, the companies by June will set up a fund totaling about 3 billion yen (US$28.9 million) to solicit investments from such related businesses as television broadcasters, toy makers and animation production studios, the newspaper reported on Sunday.

Seeking to produce high-quality animation, Itochu and Turner Broadcasting will use a larger-than-usual number of animators and other staffers.

Consequently, the firms have budgeted about 20 million yen per episode, 20-50% higher than typical production costs.

The partners initially expect to produce around three programs, with the first slated to debut simultaneously in Japan and the US in April 2006.

They will aim to broadcast the programs in other Asian countries and Europe as well, churning out more programs as the business gets under way.

The programs will be aired by a commercial broadcaster in Japan and on the Cartoon Network channel in the US. With these two broadcasting channels ensured, Itochu and Turner Broadcasting will promote the fund's projected high return to prospective investors.

The companies also plan to market toys, apparel, foods and other goods featuring their cartoon characters to help maximize the new business' profitability.

(Asia Pulse/Nikkei)

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