May 2026
📣 VC round data is live. Check it out!
Largest Content Production Public Companies in Japan
Benchmark revenue and EBITDA valuation multiples for public comps like
Toho, TBS Holdings, Nippon Television, FUJI Media Holdings and Toei Animation.
 | Toho Co Ltd is a diversified media company with interests in the film and theater businesses. The company operates through three primary business segments: movie, theater, and real estate. The movie segment generates the vast majority of its revenue and is involved in the production and distribution of feature films. The theater segment is involved in planning, producing, and performing stage productions. The corporate real estate segment leases land and buildings. The company generates the vast majority of its revenue in Japan. | $8 | -19% | $6B | $6B | 2.9x | 11.2x | ||
| TBS Holdings Inc is a Japanese media and broadcasting holding company that operates television businesses through its subsidiaries. The company operates through three reportable segments: Media & Content Business, Lifestyle Business, and Real Estate & Other Business. The Media & Content Business includes television and radio broadcasting, event planning, video software production, and distribution. The Lifestyle Business handles general merchandise retail, beauty and wellness services, private tutoring, and early childhood education. The Real Estate & Other Business segment involves land and building rentals. It generates the majority of its revenue from the Media & content business segment. | $37 | +29% | $6B | $6B | 2.2x | 10.1x | ||
| Nippon Television Holdings Inc is a broadcasting and television company. It is engaged in media, content, life and health-related, and real estate businesses. The company operates through three reportable segments: the Media and Content Business, which handles television advertising, video distribution, pay-TV, retail, and film production; the Life and Health Related Business, which operates comprehensive sports clubs; and the Real Estate Related Business, which manages real estate rental, building operations, and solar power generation. It generates the majority of its revenue from the Media and Content Business segment. | $18 | -11% | $5B | $3B | 1.1x | 6.2x | ||
| FUJI Media Holdings Inc operates as a certified broadcasting holding company engaged in media, content, and related businesses. The company has two reportable segments: Media & Content Business, which involves broadcasting, film and animation production, music publishing, advertising, and mail-order sales; and Urban Development & Tourism Business, which engages in building rental, real estate transactions, and hotel and resort management. The company earns the majority of its revenue in Japan. | $24 | +32% | $3B | $6B | 1.8x | 45.6x | ||
| Toei Animation Co Ltd is a Japanese animation company. It is engaged in the planning and production of animation products for theaters and televisions (TVs), the sale of broadcasting rights, as well as the sale of packaged software rights of the Company's animation products with a focus on digital versatile discs (DVDs). The company develops characters into diverse types of merchandise such as toys, games, stationery goods, food products, clothing, and for campaigns and promotions. It produces works of animation mainly of television series along with other types of work such as theatrical features and original video animation. | $16 | -19% | $3B | $3B | 4.2x | 12.6x | ||
| Toei Co Ltd engaged in the production of theatrical movies, TV dramas, direct-to-video productions, and anime, as well as a diverse range of businesses based on film production. The company releases both domestic and foreign movies, including its own films directly managed theaters and cinema complexes operated by the subsidiary T-Joy Co., Ltd. It also offers a digital cinema system providing packaged video software, such as DVD and Blu-ray discs. Its video distribution services engage in the sales of content to distribution media and the distribution of movies on iTunes in Japan. It operates more than ten official mobile websites via three major carriers namely NTT DOCOMO, au, and SoftBank. | $35 | +15% | $2B | $2B | 1.4x | 5.6x | ||
| TV Asahi Holdings Corporation is a Japanese multimedia group. Ranging from its primary business of broadcast TV, the company owns and manages music publishing and miscellaneous businesses. The Television Broadcasting segment is involved in the production and broadcasting of TV programs. The Music Publishing segment attends to music copyrights and related rights as well as the artist management and recording businesses and through the Others segment, it is engaged in event management and the sale of digital goods such as DVDs. The company derives its revenue from TV Broadcasting Business. | $20 | +19% | $2B | $2B | 0.8x | 8.4x | ||
| Anycolor Inc is an entertainment startup that supports and manages the NIJISANJI Project. The company produces the VTuber/Virtual Liver project NIJISANJI, global VTuber projects, and other new ventures. | $18 | -27% | $1B | $962M | 3.2x | 8.3x | ||
| Shochiku Co Ltd is a diversified media company that primarily operates in the film and production industry. The company has four business segments, which include motion picture, theatre, real estate, and other. The motion picture business produces and distributes television and feature film content. Additionally, the company licenses content domestically and internationally. The theatre segment plans, produces, and promotes kabuki presentations. The real estate business segment owns and leases development properties. The other business largely focuses on merchandise sales. The company earns the vast majority of its revenue in Japan. | $65 | -22% | $897M | $1B | 2.3x | 32.1x | ||
| Cover Corp operates as a platformer for two-dimensional entertainment. It is engaged in developing multifaceted businesses to accelerate 2D entertainment such as distribution system development, VTuber office management, and content development. | $11 | -15% | $727M | $626M | 2.3x | 11.1x | ||
| TV Tokyo Holdings Corporation operates in the broadcasting space in Japan. It is primarily involved in the terrestrial broadcasting business apart from its operation through other segments such as Broadcasting - Peripheral and Satellite Broadcasting. The Terrestrial Broadcasting segment is engaged in the sale of programs to other broadcasters, the provision of broadcast program and film rights, as well as the organization of events. The Broadcasting- peripheral segment is involved in the planning and production of programs, the mail-order business and the Broadcasting Satellite (BS) segment provides TV programs by BS digital broadcasting. | $24 | +8% | $647M | $378M | 0.4x | 4.6x | ||
| Tohokushinsha Film Corp is a Japanese based media company. It operates in four business divisions including media production, distribution, broadcasting and commercial film production. Its business activities include advertising production, sales promotion, digital production, dubbing and subtitling, film distribution, film library, television distribution, and broadcasting operations. | $4 | +2% | $485M | $169M | 0.6x | 2.0x | ||
| GREE Holdings Inc is a Japanese internet media company headquartered in Tokyo. It is engaged in developing the Game and Anime, Metaverse, DX, Manga, and Investment Business. | $3 | -20% | $453M | $38M | 0.1x | 1.5x | ||
| Avex Inc is a diversified media company, which holds a number of entertainment subsidiaries. The company has four primary business segments: music, video, management and live content, and other. The music segment designs, produces, and sells music and music-related content. The video segment plans, produces, sells, and distributes video content and feature films. The management and live business segment manages artists, sells merchandise, operates fan clubs, and is involved in the production of concerts and live events. The other business segment operates schools, restaurants, and real estate. The company generates the vast majority of its revenue in Japan. | $7 | -6% | $318M | $102M | 0.1x | 3.0x | ||
| Bushiroad Inc is engaged in the development, manufacturing and sales of trading card games using various IPs, mobile online games, video and music contents, events and goods. | $2 | -30% | $213M | $157M | 0.4x | 4.5x | ||
| Amuse Inc is a Japan based integrated entertainment group. It is involved in the businesses of artist management business, media visual business, contents business, place management business, and other businesses. In artist management business, the company is engaged in the production of concerts, stage performances of artists, planning and production of stage performances and events, management of fan clubs and sales of a variety of goods and products, television, radio and commercial appearances, and production and distribution of record masters and management of copyright. In media visual business, the company manages image-based entertainment, such as producing and distributing visual software such as TV shows and movies and producing and selling DVDs. | $11 | +9% | $179M | ($18M) | (0.0x) | (0.7x) | ||
| Marvelous Inc is a Japanese technology company that engages in planning, developing, and selling online games, consumer game software, and audio-visual content. The company's segments include online business, which develops and operates online games and applications, focusing on social games for social networking sites; consumer business, which develops and sells home game software and commercial equipment for amusement facilities; and music video business, which produces and operates music and video contents with a focus on animation. | $3 | -1% | $178M | $116M | 0.7x | 5.3x | ||
| IG Port Inc is a Japan-based content provider which delivers high-quality animated works and comics from the planning and production of contents, images, and music to the worldwide market. | $9 | -27% | $175M | $133M | 1.3x | 6.7x | ||
| KeyHolder Inc, through its subsidiaries is engaged in various businesses including advertising agency, casting, operation of the live music club, management, operation business and others. Its segments include: General Entertainment Business; Video Production Business; Video Production Business; and Logistics business. | $5 | +5% | $95M | $85M | 0.4x | 3.3x | ||
| Broadmedia Corporation engages in the content distribution business in Japan. The company operates through six segments: Education, Media Content, Studio Production, Broadcasting, Technology, and Others. It generates the majority of its revenue from the Technology segment, which offers technology services, such as the delivery of content through CDN, and digital cinema and Internet services. | $12 | +13% | $88M | $64M | 0.7x | 12.9x | ||
| Sm Entertainment Japan Co Ltd is engaged in the Broadcasting, Management, Mobile, Fan club, MD, Event, and concert, Rights, and Music businessess. | $1 | -17% | $63M | $40M | 0.6x | 13.8x | ||
| Beaglee Inc is a comic publishing company. It is engaged in content platform business which includes comic distribution services. It also provides cloud funding service. | $8 | -4% | $44M | $34M | 0.3x | 2.2x | ||
| Harrison Global Holdings Inc Formerly BloomZ Inc operates as an audio-producing and voice actor managing company. The company provides audio production services and voice-acting educational services in Japan. The business lines of the company are the audio production business, the VTuber management business, and the voice actor workshop business. The audio production comprises producing audios for animations and video games using dubbing, BGM producing, and mixing techniques; the Vtuber management business creates motion-capture technology for streamers to provide the voice to stream real-time videos featuring human facial expressions and gestures; and the voice actor workshop provides practical voice acting services. | $0 | -- | $1K | ($235K) | — | — | ||
| Median | $11 | -5% | $485M | $169M | 0.7x | 6.4x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
Recent Insights
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.