Sanrio Company, Ltd. and Avex Asia Pte. Ltd., a wholly owned subsidiary of Avex Inc., have agreed to establish a joint venture in Singapore to be responsible for the Southeast Asia region in expanding the licensing business using Sanrio characters.
Purpose of Establishment
Sanrio has been striving for sales expansion of the licensing business in the Southeast Asia region where economic growth potential has proven to be specifically significant.
Avex Asia was established in 2013 to expand its presence in Southeast Asia, including live entertainment content such as concerts, eventually starting the management of licensing business, and the distribution of Avex owned and other IP merchandise.
The joint venture aims to maximize the value of existing Sanrio characters and new characters it will develop.
Armed with Avex Asia's business experience and expertise in the Southeast Asia region and capitalising on Sanrio's experience in the world of character business, its know-how and brand power, the joint venture promises higher grounds in its regional business expansion.
The joint venture will also expect the development of future collaboration of IPs between both companies.
| Profile of Joint Venture | ||
| Company Name | ： | SANRIO SOUTH EAST ASIA PTE. LTD. |
| Address | ： | 3 Fraser Street #05-21, Duo Tower Singapore 189352 |
| Title and Name of Representative | ： | Chairman, Tomokuni Tsuji (President and CEO of Sanrio) CEO, Shunta Takahashi (President of Avex Asia) |
| Date of Establishment | ： | 2nd November, 2020 |
| Commencement of Business | ： | January 2021 |
| Business Description | ： | Licensing business using the characters owned by Sanrio group in Southeast Asia (Singapore, Thailand, Vietnam, Indonesia, the Philippines, Malaysia, Cambodia, Laos, Myanmar and Brunei) |
| Capital Stock | ： | 2,000,000 US dollars |
| Shareholder Composition | ： | Sanrio 70%, Avex Asia 30% |
| Profile of Sanrio | ||
| Company Name | ： | Sanrio Company, Ltd. |
| Title and Name of Representative | ： | President and CEO, Tomokuni Tsuji |
| Address | ： | 1-11-1, Osaki, Shinagawa-Ku, Tokyo |
| Date of Establishment | ： | 10th August, 1960 |
| Business Description | ： | Planning characters, sales, licensing, live entertainment and contents business |
| Profile of Avex Asia | ||
| Company Name | ： | Avex Asia Pte. Ltd. |
| Title and Name of Representative | ： | President, Shunta Takahashi |
| Address | ： | 3 Fraser Street #05-21, Duo Tower Singapore 189352 |
| Date of Establishment | ： | 19th July, 2013 |
| Business Description | ： | Live entertainment, concerts, and IP licensing business |
《Media-related inquiries》
Public Relations Section, Office to the President,Sanrio Company, Ltd.
Public Relations Unit, Public Relations Office, Avex Inc.