Cool Japan joins consortium in $160m SDI Media purchase

The consortium, which also includes Sumitomo Corporation, will pay a total of $160 million, with Cool Japan contributing $59.5 million to the deal, a statement said.

SDI describes itself as a media localisation service, which means it specilizes in providing subtitling and dubbing services for international content. The company seeks to accelerate overseas distribution of television programs, animation, film by reducing the cost, while improving the quality and speed, of translation services.

Currently the business operates in 37 countries in more than 80 language with a client base composed of several leading media corporation and production companies.

“Recently the global demand for popular media content is increasing due to the diversification of media outlets through digitisation,” a Cool Japan statement read.

“However, the distribution of Japanese content such as television programs, animation, and films to overseas markets is bot sufficient. On of the major obstacles is the cumbersome and costly process of localizing Japanese content into other languages.”

The Cool Japan Fund 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). Koichiro Yoshizaki, a former director with The Carlyle Group and current founder of Growth Initiative, serves as CIO, while Nobuyaki Ota, managing executive officer of Matsuya Department Stores and former CEO of fashion label Issey Miyake, is CEO.

Last December, the fund agreed to invest JPY2 billion in Chikaranomoto Holdings, the restaurant operator behind international ramen noodle chain Hakata Ippudo.

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