Finance
As Comic-Con Kicks Off, Japan’s Booming Anime Industry Is Attracting Institutional Finance
Ahead of a weekend when Asian content will be making a big impact at San Diego Comic-Con, two of Japan’s largest industrial and financial conglomerates have quietly begun to invest in Japanese animation, the hottest part of the country’s film and TV industry.
Marubeni, which has roots in cereals, chemicals and paper but has diversified to become a trading giant and Japan’s 13th largest corporation, says it is targeting the booming manga (comics) and anime (animated movies and series) markets through a new venture with Shogakukan, a leading publisher.
Mizuho Securities, another part of the Mizuho keiretsu (a form of business alliance common in Japan), revealed this month that it will launch an animation film fund. The brokerage will raise finance from institutions and wealthy individuals in lots starting at JPY300 million ($200,000) apiece and says that it aims to raise $15 million by the end of the year.
Japanese animation is certainly enjoying a period of unprecedented success. Titles such as Shogakukan and Shin-Ei Animation’s “Doraemon,” Shuiesha and Ufotable’s “Demon Slayer” and “Detective Conan” and “One Piece” have become powerful global franchises. Recently too, Japanese animated films including Studio Ghibli’s “The Boy and the Heron” and CoMix Wave-Toho’s “Suzume” have proven themselves capable of $100 million single-territory theatrical feats.
Mizuho will work with Questry, a blockchain startup, and Royalty Bank. They will then deploy tranches of cash, up to $5 million a time, as investments in a handful of new Japanese animations each year.
Institutional funds were a bigger part of the Japanese scene in the early 2000s, but have since given way to the dominant production committee system. These committees are clusters of companies either in the entertainment business or closely allied to it, such as ad giants Dentsu and Hakuhodo, that agree to share risk.
The production committee system creates stability, but it has been criticized for slow decision making, scaring off international co-productions and keeping budgets artificially low. The per film, special purpose vehicles that committees frequently set up ring-fence financial risk but may also discourage reinvestment.
In recent years, however, multiple factors are causing an erosion of the risk-averse committees. These include the growing international success of Japanese anime, Sony’s acquisition and rejuvenation of specialty anime streamer Crunchyroll and the arrival of Netflix as another major investor in the sector.
The government of Prime Minister Kishida Fumio is also itching to see Japanese entertainment put on the same level as K-pop and Korean TV dramas. In his “New Capitalism” proposals last month, he said: “Anime, manga, music and other artistic content are assets we ought to be proud of.” He suggested that entertainment content could have an export profile that compares with steel and semi-conductors.
Additionally, leading filmmakers such as Kore-eda Hirokazu are militating for a modernization of the Japanese film industry – one that sees the establishment of state-backed production funds and incentives modeled on those operated by France’s Centre Nationale de la Cinematographie, and a system that breaks down paternalist hierarchies.
In a report by Bloomberg, Shuichiro Tomihari, director at the Mizuho’s global investment banking division, said that he hopes to “create opportunities for third-party investment and accelerate the revitalization of the animation industry.”
New funds could help ease two problems that the industry is currently facing: a shortage of animators (low salaries and long hours are dissuading new entrants) and production budgets that pale in comparison with the biggest American (and Chinese) counterparts. (Sony is also currently setting up a skills training academy.)
Backlogs of work are reported to extend two to three years, and are causing leading studios to consider outsourcing more production to offshore centers such as the Philippines or Vietnam. That is something that many are unwilling to give in on. Ditto to further weakening of the tradition of predominantly hand-drawn animation. But change is coming whether they like it or not.
The threats posed by overseas rivals and AI-assisted production — and the current opportunities for diversification of Japanese anime into new markets and online formats — are catalysts for transformation of the sector that will require funding.
Marubeni’s involvement is fairly conventional in that it set up MAG.NET Corp. as a joint venture between two established corporations (in fact three, including Marubeni’s paper products subsidiary Forest LinX). But it remains significant that this is the 168-year-old industrial giant’s first foray into entertainment.
The group’s background reasoning is similar, too. “Overseas sales of Japanese content were estimated in 2022 to be equivalent to JPY4.7 trillion ($2.9 billion). The popularity of Japanese manga and anime is growing rapidly to a backdrop of rising demand for stay-at-home stocks occasioned by the COVID-19 pandemic as well as aggressive distribution by major overseas distributors, with the market expanding to encompass a variety of merchandise, including games,” Marubeni said in a statement.
It also identifies weaknesses that need fixing. “Lack of direct distribution networks and retail outlets means that attractive content cannot be delivered to fans around the world, resulting in lost opportunities. This situation has led to an increase in pirated products, highlighting the need for a system that ensures the distribution of legitimate goods,” the statement continued.
While Shogakukan is tasked with ensuring product supply for MAG.NET, Marubeni and Forest LinX aim to expand the range of goods and services that use manga and anime, expand overseas distribution including the building of retail outlets.
And other financial engineering moves may be afoot. Earlier this month Singapore-based Phillip Securities said that it was raising more than $2 million through the sale of digital securities for the Japanese live-action film “Treasure Island,” adapted from a Shindo Junjo novel and starring Tsumabuki Satoshi.
In mid-June, private equity giant Blackstone announced that it had made a $1.7 billion tender offer for Japan’s Infocom. The company is a leading provider of digital comics, with its Mecha Comic subsidiary described as “the market leader for Japanese women 30 years old and above.”
DULUTH — The Duluth Homegrown Music Festival is seeking both new operational leadership and a solution to financial filing issues that caused the organization to lose its federal tax-exempt status, which it has not held since 2022.
The organization is currently operating as a taxable nonprofit, confirmed Don Ness, the former Duluth mayor who serves as president of Homegrown’s
board of directors.
Ness and the board are working to discern whether there might be any outstanding tax liabilities in the wake of an apparent filing lapse.
“It’s a serious matter that requires diligence to do things right, and to correct past oversight, and to make sure that we are in full compliance with all tax and regulatory requirements,” Ness said. “The board is 100% committed to that course of action.”
As the Duluth Monitor first reported, Homegrown had its federal tax-exempt status revoked in 2022 after failing to make required financial reports for three years. The Monitor also reported that Minnesota Attorney General Keith Ellison’s office has notified the organization it may be in violation of state law requiring the proper registration of soliciting charities.
Clint Austin / Duluth Media Group file photo
“All but one of us have been on for less than a year,” Ness said of the current board members. “We’ve been committed to saying, ‘hey, we need to improve the points of accountability.’”
The organization will also require new operational leadership. Co-directors Cory Jezierski and Dereck Murphy-Williams resigned earlier this month, after leading Homegrown through four successful festivals.
“My contract ended at the end of May, and I knew a few days later that I did not want to continue in that position,” Jezierski said. “Simply put, it was the best thing for my mental health. It’s a job that requires many, many hours and a lot of work, and it can be very stressful as well.”
Amy Arntson / Duluth Media Group file photo
Murphy-Williams did not respond to an interview request for this article, nor did preceding Homegrown director Melissa LaTour. According to LaTour’s
LinkedIn profile,
she was Homegrown director from 2016 to 2022.
Jason Beckman, a recent president who is no longer serving on the board, responded to a News Tribune email but did not provide an interview availability before this article went to press.
Ness does not believe the reporting lapses were due to any ill intent. He praised Jezierski and Murphy-Williams for their success managing festival operations. “They cared deeply about the festival,” he said. “It’s amazing to see that our community continues to support this really unique and special festival.”
“Those guys run a hell of a festival,” said Scott Lunt, festival founder and a current board member. “I think they needed help with bookkeeping.”
Clint Austin / Duluth Media Group file photo
By Jezierski’s account, issues with the festival’s tax status became apparent shortly after he became co-director. “We went to file taxes, they were rejected,” Jezierski said. “At that time we, of course, didn’t know why right away, but once we started pulling on that thread, we unraveled a whole lot of the problems that were going on.”
Jezierski said “it took a long time to try to get any sort of help” from the board, but said that by the time he and Murphy-Williams left the organization, “everything had been turned over to be reconciled” with a financial professional.
Ness, like Lunt, was deeply involved with Homegrown in its first decade but had not had an official role with the festival since then. After launching the festival in 1999 and running it on his own for several years, Lunt was “burnt out,” Ness remembered.
Derek Montgomery / Duluth Media Group file photo
After a transition period during which the festival was run in partnership with the Ripsaw newspaper, Homegrown established a nonprofit organization in 2006 with Ness as festival director. Ness subsequently stepped down when he was elected mayor in 2007.
By 2025, Ness was in his current position as executive director of the Ordean Foundation.
“I was approached by a couple of longtime music scenesters,” Ness recalled. “They said, ‘There are questions about (Homegrown’s) nonprofit status. There are questions about some governance issues. We’re concerned.’”
Ness agreed to join the board, and became president. The 2026 festival ran smoothly from an operational standpoint, but Ness found the financial reporting to be lacking.
Clint Austin / Duluth Media Group file photo
“The last board meeting that we had prior to the (co-directors’) resignations was intended to be an overview of the festival that was a month before,” Ness said. “I certainly felt very uncomfortable with how little financial information we were receiving.”
Lunt also joined the board in 2025, marking his first time serving in that capacity. He said the new board has been spending significant time addressing the accounting and reporting issues.
“Every year at Homegrown time I’m like, ‘I should get more involved,’ and then I don’t,” Lunt said. “Then this board thing came up, and it was kind of sold to me as, like, four meetings a year. I was like, ‘Oh, that’s perfect.’ And now we’re meeting weekly.”
Clint Austin / Duluth Media Group file photo
Although it’s unclear how the organization’s finances will look when the accounting and reporting issues have been fully addressed, along with any outstanding tax liabilities, both Ness and Lunt said they are confident the annual festival will continue without interruption.
“The organization will continue,” Ness said. “The festival will continue. Homegrown is in no danger in terms of its viability.” The financial documentation Ness initially received indicated budgeted revenues of about $140,000, against about $130,000 in expenses.
“Financially, I think we’re in a great spot. We have the money to hire the (financial) professionals, and we have (done so),” Lunt said. “We were hoping that we could get all this sorted out before it had to become more public.”
“We poured countless hours into this festival, and this is how it ends, with everyone talking about this,” Jezierski said. “It’s rough.”
“There’s a DIY ethos that is really at the core of Homegrown,” reflected Ness. “We’re throwing a music festival that isn’t waiting for some famous band from the East Coast to bless us with their presence. We are doing this on our own.”
Clint Austin / Duluth Media Group file photo
That DIY spirit also means “you’re kind of passing wisdom down from person to person, and sometimes that’s imperfect.” Ness continued. “The ways that we do things evolve over time, because it’s not a buttoned-down corporate sort of thing. That can create its own set of challenges.”
“It’s self-supporting,” said Lunt about the festival. “It’s widely volunteer-run. You do need to pay a couple people, obviously, to keep track of some things, but it’s going to be strong into the future. It’s gone through its bumps before.”
While most AI in financial services remains advisory, LUMIQ has built the layer that owns the decision — autonomous, auditable AI agents making regulated calls in production at leading banks, insurers, and capital markets firms. Today, LUMIQ serves clients across India, the United States, and Southeast Asia — leading institutions across insurance, banking, and capital markets.
NEW YORK and SINGAPORE, June 19, 2026 /PRNewswire/ — LUMIQ, an AI-native financial services company, today announced a strategic funding round to scale auto-decisioning for financial institutions across the United States and Southeast Asia. The round was led by Bajaj Finserv, one of India’s largest and most diversified financial services groups, with participation from existing investor Info Edge Ventures.
Right now, thousands of customers are waiting for a policy to be issued, a loan to be disbursed, a claim to be adjudicated, because somewhere an FSI employee is drowning in decisions, held back by the risk of getting it wrong. Today, when e-commerce delivers the same day, banks and insurers still decide in weeks. We built LiteCone to take that burden: AI decides the routine cases, completely and accountably, so humans spend their judgment on the one case that actually needs it. This round lets us bring that to every financial institution in the markets that matter most.
Shoaib Mohammad, Co-founder and CEO, LUMIQ
From AI that assists to AI that decides
For decades, financial institutions have bought technology that made their people faster — faster data, faster scoring, faster copilots. The decision still landed on a human. LUMIQ is changing that. Through its LiteCone platform, the company deploys AI agents that read the file, apply the institution’s own guidelines, and reach the decision end to end — escalating only the cases that genuinely require human judgment. The output is not a recommendation. It is a decision, with full reasoning attached, cross-referenced to policy, and defensible under audit.
The results in production speak clearly. At a leading life insurer, LUMIQ’s LEO agent decides 75–80% of underwriting cases with zero human touch, reduced policy issuance cost by roughly 25%, and compressed turnaround from days to under eight minutes — running 24×7 with complete auditability. Across its client base spanning insurance, banking, and capital markets in India, the US, and Southeast Asia, LUMIQ now processes millions of decisions annually.
LiteCone turns a real financial-services role into a working AI agent in weeks. Every agent we deploy is consistent, explainable, compliant, and auditable by design — not as an afterthought. This capital lets us go deeper on the platform and broader across roles. And through our cloud and AI lab partnerships, institutions will increasingly find LiteCone already embedded in the platforms they run today.
Vaibhav Dobriyal, Co-founder and Chief Product Officer, LUMIQ
Consumer confidence has plunged among traditionally optimistic younger adults amid fears for their personal finances and the wider economy, figures show.
GfK’s long-running Consumer Confidence Index remained unchanged at an overall score of minus 23 in June.
However, the analyst said this was was “misleading as, beneath the surface, there are new signs that confidence is weakening”.
Neil Bellamy, consumer insights director at GfK, said: “The biggest fall this month is among those aged 16 to 29, traditionally one of the most optimistic groups.
“Here confidence has dropped 11 points over the past month to minus two, the lowest level seen for two years, driven by large falls in views on both their own personal finances and the wider economy.
“More broadly, there are now no demographic groups with a positive confidence score, including higher-income households earning £50,000 or more, who have slipped back into negative territory as of June.
“Confidence remains subdued and vulnerable to further economic or political uncertainty.”
Overall, confidence in personal finances over the coming year remained flat at minus two, four points lower than this time last year.
The measures of both personal finances and the economy over the previous 12 months were both slightly down, by two points and three points respectively, “reflecting the sense that things have been extremely tough over the last year for so many”, GfK said.
The only measure to increase was expectations for the wider economy over the next 12 months, up two points to minus 36 but still eight points below this time last year.
The major purchase index, an indicator of confidence in buying big ticket items, remained at minus 20, four points lower than June last year.
-
Idaho3 minutes agoMountain Home neighbors kickoff Juneteenth celebrations as Idaho marks 25 years of recognition
-
Illinois10 minutes agoIllinois has already broken the record for number of tornadoes in a year — and it’s only June
-
Indiana12 minutes agoHamilton County teen is youngest delegate at Indiana Republican convention
-
Iowa18 minutes agoReynolds orders flags lowered for funeral of Iowa Sen. Julian Garrett
-
Kentucky28 minutes ago
Louisville celebrates Juneteenth with parade honoring history and culture
-
Louisiana33 minutes agoFrom ‘not pageant people’ to Miss Louisiana stage: Addison J…
-
Maine40 minutes agoMaine gubernatorial candidates trade barbs on first day of general campaign
-
Maryland43 minutes agoMaryland governor celebrates Juneteenth in historically-Black Montgomery County community – WTOP News
