News

2024/3/13

TOPPAN Holdings Acquires Cross Media

U.K.-based organizer of HYPER JAPAN event added to the TOPPAN Group to further drive Japanese culture showcases, merchandize sales, and content. Local PR functions to be strengthened to support Japanese businesses and local authorities entering the U.K. market.

Tokyo – March 12, 2024 – TOPPAN Holdings Inc. has announced that on January 31 it entered into a share transfer agreement to acquire Cross Media Ltd. (Cross Media), the operator of HYPER JAPAN events that showcase Japanese culture in the U.K. 

TOPPAN Holdings completed procedures to make Cross Media a consolidated subsidiary on February 29.

With this acquisition, the TOPPAN Group will leverage the U.K. as a hub for accelerating expansion of business related to Japanese content.

Cross Media operates HYPER JAPAN, one of the leading events for promoting Japanese culture in the U.K. The event has won an army of fans by showcasing Japanese food, drink, and culture, including content in the form of anime and manga. By investing in Cross Media and becoming its largest shareholder, the TOPPAN Group will use the U.K. as a base to drive overseas expansion for Japanese content and further enhance the popularity of Japanese culture in Europe.

Background

In recent years, stay-at-home demand during the COVID-19 pandemic and growth in over-the-top (OTT) media services have contributed to expansion of the market for content from Japan, particularly for anime. The overall market for Japanese content in Europe is estimated to have been worth US$4.8 billion in 2023 and is anticipated to grow to as much as US$9 billion in 2030. The U.K. has Europe’s largest market for the content, with the fanbase for anime expanding among Generation Z (Source: Europe Anime Merchandising Market Analysis and Segment Forecasts to 2030. Grand View Research). Japanese content owners are establishing local subsidiaries in the U.S., and efforts to enter and expand in markets such as China and India are underway. In Europe, however, although demand for Japanese cultural content is increasing due to the availability of OTT media services, the lack of progress in establishing a supply chain in the U.K. has presented a challenge.

Through large-scale showcase events, Cross Media has contributed significantly to enhancing the profile of Japanese culture and content in the U.K. over the years. By bringing the company on board, the TOPPAN Group will be able to provide Japanese businesses, local authorities, and other content owners with support that goes beyond development and manufacture of related merchandize, extending to global expansion as well as intellectual property (IP) management and merchandize sales in the U.K. in particular.

The TOPPAN Group will further cultivate the metaverse-based virtual sector, one of its strengths, and drive the overseas expansion of Japanese culture and IP content in the real and virtual domains. The TOPPAN Group will also enhance Cross Media’s PR functions to support the efforts of Japanese businesses and local authorities in the U.K.

Overview of Cross Media Ltd. (At time of acquisition)

Anticipated synergies

・The TOPPAN Group intends to leverage Cross Media’s membership platform to accelerate efforts to expand the fanbase for Japanese content. Through a linkup with the Cool Japan metaverse being advanced by the TOPPAN Group, it will also support the promotion of Japanese content by putting in place real merchandize sales channels. This will help expand markets for both content and inbound tourism by increasing the number of fans of Japan and its culture.

・The companies will expand participation in Cross Media’s HYPER JAPAN by Japanese domestic businesses and local authorities, including content owners. Through fusion with the TOPPAN Group’s various technologies and event operation know-how, the companies will support entry into the U.K. market by accelerating efforts to promote Japanese culture and raise the profile of products from Japanese companies.

Future

With this acquisition, the TOPPAN Group aims to contribute to PR and promotion for Japanese content in the U.K. and Europe and to establish a supply chain in the U.K. by putting in place local sales channels for merchandize by the end of fiscal 2025. The Group will also expand HYPER JAPAN events and increase exposure and sales opportunities for Japanese content in the U.K. as well as developing a platform for delivering Japanese content in Europe.

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