Saturday, December 29, 2007
TOKYO — DesignEXchange Co said Friday that it will acquire the right to 50% of copyright fees paid for film scripts by the late Akira Kurosawa, the celebrated Japanese film director.
The Japanese design company, listed on the Tokyo Stock Exchange's Mothers market for startup firms, will obtain the right for 1.4 billion yen from Yokohama-based Kurosawa Production. It expects brisk revenue from events scheduled in 2010 to commemorate the 100th anniversary of Kurosawa's birth.
The company will purchase the right to copyright royalties for 71 scripts written or cowritten by Kurosawa, including "Rashomon," "Seven Samurai" and "Yojimbo." The transaction also covers copyright fees paid for remaking the scripts, rewriting them for television and animated versions and releasing unscreened works.
It is the first time that copyright on Kurosawa's works has been sold to a third party.
In late March, DesignEXchange accepted Hisao Kurosawa, Kurosawa's eldest son and head of Kurosawa Production, as an outside board member and paid 400 million yen for the right to act as intermediary in negotiations between Kurosawa Production and film companies for remakes of Kurosawa movies.
For the latest deal on copyright fees, DesignEXchange will issue share-purchase warrants to a Tokyo-based investment fund to raise some 1.1 billion yen in fresh funds.
TOKYO — DesignEXchange Co said Friday that it will acquire the right to 50% of copyright fees paid for film scripts by the late Akira Kurosawa, the celebrated Japanese film director.
The Japanese design company, listed on the Tokyo Stock Exchange's Mothers market for startup firms, will obtain the right for 1.4 billion yen from Yokohama-based Kurosawa Production. It expects brisk revenue from events scheduled in 2010 to commemorate the 100th anniversary of Kurosawa's birth.
The company will purchase the right to copyright royalties for 71 scripts written or cowritten by Kurosawa, including "Rashomon," "Seven Samurai" and "Yojimbo." The transaction also covers copyright fees paid for remaking the scripts, rewriting them for television and animated versions and releasing unscreened works.
It is the first time that copyright on Kurosawa's works has been sold to a third party.
In late March, DesignEXchange accepted Hisao Kurosawa, Kurosawa's eldest son and head of Kurosawa Production, as an outside board member and paid 400 million yen for the right to act as intermediary in negotiations between Kurosawa Production and film companies for remakes of Kurosawa movies.
For the latest deal on copyright fees, DesignEXchange will issue share-purchase warrants to a Tokyo-based investment fund to raise some 1.1 billion yen in fresh funds.
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