Cool Japan invests $37m in TV channel Wakuwaku

Wakuwaku Japan has been broadcasting in Indonesia since February last year, and in Myanmar since June. It specializes in locally-translated Japanese content including anime, drama, sports, music, and film and currently claims to reach 2.5 million households.

Demand for television channels showing foreign content - particularly from Japan - has risen in developing countries where economic growth has fueled the expansion of the middle class. According to a release, Wakuwaku Japan intends to further tap this growth by expanding its footprint to 22 countries and 41 million households by 2020.

In addition to broadcasting new programs from Japan, the channel plans to produce its own programs. It also wants to explore running live music events with Japanese performers, Japanese-themed fashion events, and sporting events featuring Japanese teams in the countries in which it airs.

The deal comes just days after Cool Japan joined a consortium of investors, led by production company Imagica Roboto Holdings, to acquire a 100% stake in US subtitler SDI Media Group. Last December, the fund also agreed to invest JPY2 billion in Chikaranomoto Holdings, the restaurant operator behind international ramen noodle chain Hakata Ippudo.

Cool Japan was launched in November last year and is looking to invest up to JPY90 billion in cultural exports such as fashion, food and media. The fund is managed by the Japan's Ministry of Trade, Economy and Industry (METI) and is targeting small to medium-sized enterprises (SMEs).

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• Topics
• North Asia
• Media
• Southeast Asia
• Expansion
• Japan
• Growth capital
• Media
• Southeast Asia