News
Wiz Sells Off Production Reed Anime Studio
posted on by Egan Loo
Former GoShogun
The toy developer and producer Wiz has announced that it decided on Wednesday to sell its Production Reed anime studio subsidiary to Toshihiko Satō, the studio's current president. Wiz holds 22,267 shares, or 50.1%, of Reed. Sato is buying these shares at 3,600 yen ($38.00) each for a total of 80 million yen (US$840,000). Wiz could not foresee any synergy in owning Reed, so it decided to sell the anime studio to recommit itself to its core strengths of planning, developing, and producing toys. Once the management buyout is complete, Reed will be over 95% employee-owned.
Production Reed was established as Ashi" is Japanese for "reed.")
Source: animeanime.jp
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