{"id":75023,"date":"2026-11-10T18:34:04","date_gmt":"2026-11-10T09:34:04","guid":{"rendered":"https:\/\/automaton-media.com\/en\/?p=75023"},"modified":"2026-11-10T18:34:06","modified_gmt":"2026-11-10T09:34:06","slug":"cool-japan-fund-postmortem-finds-that-video-game-anime-and-manga-investments-were-profitable-while-live-action-sector-suffered-losses","status":"publish","type":"post","link":"https:\/\/automaton-media.com\/en\/news\/cool-japan-fund-postmortem-finds-that-video-game-anime-and-manga-investments-were-profitable-while-live-action-sector-suffered-losses\/","title":{"rendered":"Cool Japan Fund postmortem finds that video game, anime and manga investments were profitable, while live-action sector suffered losses\u00a0"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Following an infamously unsuccessful run that resulted in losses of about $340 million, the <strong>Cool Japan Fund<\/strong> \u2013 a domestic initiative launched in 2013 to boost Japan&#8217;s soft power \u2013 is due to be dissolved. On November 9, Japan&#8217;s Ministry of Economy, Trade and Industry (METI) <a href=\"https:\/\/www.meti.go.jp\/shingikai\/mono_info_service\/entertainment_creative\/pdf\/020_03_00.pdf\" target=\"_blank\" rel=\"noopener\">published a review<\/a> of the Cool Japan Fund&#8217;s performance, offering some insights into which of its investments were worthwhile, and which of them led to losses. It also defined &#8220;lessons&#8221; it has learned from the ordeal, which it intends to apply to future policies regarding the content industry.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Most notably, the study found that when it comes to investments in the content industry, the video game, anime, manga, and music sectors generated solid returns for the fund, with an overall recovery rate of 120%. However, 30% of all content-related investments went into the live-action sector, which was &#8220;a non-growth market at the time,&#8221; according to the presentation. Consequently, investments in live-action performed poorly, with a recovery rate of just 46%. In particular, investments in joint ventures focused on distribution (such as broadcasting) accounted for 30% of the fund&#8217;s investment in the sector but resulted in 80% of its losses.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"ja\" dir=\"ltr\">\u672c\u65e5\u3001\u30a8\u30f3\u30bf\u30e1\u7814\u7a76\u4f1a\u3092\u958b\u50ac\u3057\u3001\u30af\u30fc\u30eb\u30b8\u30e3\u30d1\u30f3\u6a5f\u69cb\u306e\u6570\u5b57\u306e\u691c\u8a3c\u3082\u8e0f\u307e\u3048\u3066\uff17\u3064\u306e\u6559\u8a13\uff08\u4eee\u8aac\uff09\u3092\u4e2d\u5fc3\u306b\u8b70\u8ad6\u3002\u307e\u305a\u30b2\u30fc\u30e0\u30fb\u30a2\u30cb\u30e1\u30fb\u30de\u30f3\u30ac\u30fb\u97f3\u697d\u5206\u91ce\u306f\u6295\u8cc7\u53ce\u76ca\u3092\u78ba\u4fdd\uff08\u56de\u53ce\u7387120%\uff09\u3057\u305f\u304c\u3001\u5b9f\u5199\u5206\u91ce\u306e\u56de\u53ce\u7387\u306f46%\u3068\u4f4e\u8ff7\u3001\u4e2d\u3067\u3082\u653e\u9001\u7b49\u306e\u6d41\u901aJV\u3078\u306e\uff13\u5272\u306e\u6295\u8cc7\u3067\uff18\u5272\u306e\u640d\u5931\u3092\u8a08\u4e0a\u3002\uff081\/4\uff09 <a href=\"https:\/\/t.co\/3VDDeQ5CRK\">pic.twitter.com\/3VDDeQ5CRK<\/a><\/p>&mdash; \u7d4c\u6e08\u7523\u696d\u7701\u00d7IP360 (@metiIP360) <a href=\"https:\/\/x.com\/metiIP360\/status\/2119726438656180372?ref_src=twsrc%5Etfw\">November 9, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Investment recovery rates also varied depending on the growth stage of the businesses receiving support. While investments in joint ventures and early-stage businesses had a recovery rate of 42%, the figure was 101% for mid- to late-stage businesses. Additionally, the findings show that a relatively small proportion of investments went toward content production in the first place (10%), with investments disproportionately concentrated in distribution (60%), which had an overall lower recovery rate. That being said, excluding the live-action sector, investments in distribution did generate returns.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Among its &#8220;seven lessons learned,&#8221; METI mentions that as it works on an overhaul of Japan&#8217;s content industry policies, it intends to exercise caution when providing large-scale support to low-growth markets, joint ventures, and early-stage businesses with limited track records. Instead, it aims to expand support for promising IP and businesses in growing markets, as well as to strengthen direct support for content production, making sure that funding reaches the creators themselves. It remains to be seen whether and to what degree this will be reflected in future policies.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It might also be worth noting that, while the Cool Japan Fund is most strongly associated with entertainment content like anime and games in the West, only about 30% of the fund&#8217;s money went towards these industries in the first place. Instead, significant investments went towards other sectors, and the initiative&#8217;s largest investment (approximately $88 million) was a startup developing artificial spider silk, which happened to fail.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Related: <a href=\"https:\/\/automaton-media.com\/en\/news\/anime-creators-received-0-0-of-japanese-governments-entertainment-industry-subsidies-in-2024-official-documents-show\/\" target=\"_blank\" rel=\"noreferrer noopener\">Anime creators received \u201c0.0%\u201d of Japanese government\u2019s entertainment industry subsidies\u00a0in 2024, official documents show\u00a0<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/automaton-media.com\/en\/news\/japanese-government-makes-indie-game-developers-eligible-for-grants-of-up-to-60000-usd-covering-production-costs-and-promotion\/\" target=\"_blank\" rel=\"noopener\">Japanese government makes indie&nbsp;game&nbsp;developers eligible for grants of up to $60,000 USD, covering production costs and promotion&nbsp;<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>30% of all content-related investments went into the live-action sector, which was &#8220;a non-growth market at the time.&#8221;<\/p>\n","protected":false},"author":55,"featured_media":75026,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_gspb_post_css":"","autoblue_enabled":true,"autoblue_custom_message":"","autoblue_shares":[{"did":"did:plc:uzrrhkfyjrfdsynj2voztcf2","date":"2026-11-10T09:34:11+00:00","uri":"at:\/\/did:plc:uzrrhkfyjrfdsynj2voztcf2\/app.bsky.feed.post\/3mzx55xlvjm2r","response":"{\"uri\":\"at:\/\/did:plc:uzrrhkfyjrfdsynj2voztcf2\/app.bsky.feed.post\/3mzx55xlvjm2r\",\"cid\":\"bafyreigsoavur7u4lbszsy5isiqzmy2dpcxxghyuwguabr4vjf2alpcvoq\",\"commit\":{\"cid\":\"bafyreib6mb5khdnzkjlk5usqmepwvcc6dj7iq6yrnc4keqkc3d5dwoebhi\",\"rev\":\"3mzx55xm4ee2r\"},\"validationStatus\":\"valid\"}"}],"autoblue_post_url":"","autoblue_publish_document":false,"footnotes":""},"categories":[3],"tags":[73,17],"class_list":["post-75023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-anime","tag-japan-related-news"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":8}},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - 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