Nippon Television Holdings Inc. announced on Thursday that its consolidated subsidiary Nippon Television Network (Nippon TV) has reached an agreement to make Studio Ghibli its subsidiary. The company will acquire 42.3 percent of the shares from multiple individual shareholders based on voting rights, effective October 6, 2023.

In this transition, Hiroyuki Fukuda, a senior operating officer and board director at Nippon TV, is anticipated to assume the role of Studio Ghibli's new president. Concurrently, Toshio Suzuki, the current president and co-founder of the esteemed animation studio, will undertake the position of representative director and chairman of the board. Hayao Miyazaki will transition to the role of chairman emeritus, while his eldest son, Gorou Miyazaki, will serve as the managing director.

The management of Studio Ghibli, in its new configuration, will be overseen by eight board directors, including the aforementioned key figures. Nippon TV's influence will be reflected through the appointment of two additional directors and an auditor. This strategic transition is slated for formal ratification during a special shareholders meeting scheduled for October 30, 2023. Although specific details regarding the acquisition price have not been publicly disclosed, Nippon TV affirms its commitment to supporting Studio Ghibli's management, allowing the studio to concentrate on its anime production endeavors.

Toshio Suzuki, in a press conference on Thursday, emphasized the rationale behind this development, stating, "Ghibli has become too substantial for one individual to manage effectively. We believe the involvement of a substantial corporate entity, rather than an individual, is crucial for its continued success." Concurrently, Yoshikuni Sugiyama, chairman of Nippon Television Holdings, echoed this sentiment, expressing a deep regard for Studio Ghibli's significance as a premier animation company in Japan. The objective is to honor and maintain the prevailing production processes as much as possible.

The succession plan at Studio Ghibli has been a subject of prolonged consideration and discussion between the co-founders, Miyazaki (82) and Suzuki (75). Miyazaki's son declined the role, citing the complexity of single-handedly managing Ghibli and the belief that the future of the company would be better steered by others.

Source: Press Release, Nikkei, Reuters Japan