ITOCHU Announces Development of Opanchu Usagi Across Asia
October 21, 2024
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter "ITOCHU") announced today that it has acquired the exclusive rights to merchandise the popular character, Opanchu Usagi, in the Asian region excluding Japan and South Korea.
The market for merchandising licenses related to anime and character products in the Asia-Pacific region is growing significantly every year. The anime and character IP market is expected to grow at an annual average rate of 6.1%, growing to 147.4 billion dollars (approx. 21 trillion yen) by 2029*1. Moreover, with the increasing use of social media in recent years, numerous characters have emerged from social media platforms and gained significant popularity, especially with Generation Z. As content recognition tends to increase quickly in a short time due to the ease with which users share content, there has been growing need for smooth overseas development, aiming to foster and expand content in the medium to long term.
The character Opanchu Usagi is very popular both in Japan and internationally. It initially emerged from social media and was created by the creator Kawaisou ni!. The character features a cute design and unique personality traits, and it has become extremely popular with many different groups of people, especially adolescents. In the 2024 ranking of characters that are most popular with teenage girls, Opanchu Usagi was ranked number one*2. Associated content has been released on various media platforms, and its impact is still increasing, especially via social networks.
Since the establishment of the Rights & Brands Asia Ltd., a joint venture in Hong Kong in September 2021, which was established to engage in licensing businesses, ITOCHU has been promoting the anime and character licensing business in the Asian market. The establishment of the company's Shanghai branch in May 2024 marked a significant increase in the activities in Greater China, as it obtained exclusive licensing for Moomin*3 in Southeast Asia*4 in addition to Greater China, resulting in the expansion of its business areas. Based on a network established through the use of anime and characters like Moomin, ITOCHU is accelerating the development of prominent Japanese content across Asia, including productions handled by SKY Perfect Pictures Inc.*5, which ITOCHU has invested in and engaged with.
Leveraging its global network, ITOCHU aims to increase Opanchu Usagi's brand recognition in the Asian region by enhancing the product strategies through licensee companies and expanding its deployment in major retail markets.
ITOCHU has set its management policy with this theme: The Brand-new Deal - Profit Opportunities Are Shifting Downstream. Through this business, ITOCHU will gain knowledge and expertise in the licensing business to provide new products and services that meet the diverse needs of customers in the core consumer related sector. ITOCHU also aims to further develop anime characters across the globe.
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*1Data Bridge Market Research
https://www.databridgemarketresearch.com/reports/asia-pacific-animation-market -
*2Marketing/PR laboratory
https://cm-marketinglab.mynavi.jp/column/research_character-trend-24/ - *3Moomin: Story created by Finnish writer and painter, Tove Jansson (1914-2001).
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*4ITOCHU Announces Support Provision for Character Licensing Business Development in Southeast Asia — Expansion of Area where Moomin Brand is Exclusively Developed through Rights & Brands Asia Ltd.
https://www.itochu.co.jp/en/news/press/2024/240509.html -
*5ITOCHU Announces Entry into the Animation Business — Through an Investment in SKY Perfect Pictures Inc., a New Animation Production Company
https://www.itochu.co.jp/en/news/press/2024/240325_2.html
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