Tokyo film distributor Prenom-H blames Senkaku-Diaoyu...

[nancix**]

Tokyo film distributor Prenom-H blames Senkaku-Diaoyu row for bankruptcy

The Japan Daily Press.[via Variety]

Prenom-H Co., a Japanese movie distribution company, announced its bankruptcy on Monday. Corporate credit research firm Teikoku Databank Ltd. has said the ongoing territorial row between China and Japan over the Senkaku/Diaoyu Islands played a major role in the company’s financial turmoil, bogging down projects and limiting sales opportunities.

Prenom-H was originally to produce the Kiyoshi Kurosawa-directed movie 1905, a joint work between Japan and China that featured filming in both countries and stars actor Tony Leung. The move was scheduled to be released sometime this year, but has been hampered by the bilateral tensions and resulting financial difficulties. The Tokyo District Court granted its approval on February 21st for the bankruptcy procedures to begin, with Prenom-H leaving roughly 643 million yen (approx. $7 million) in debts.

Based in Tokyo, the film distributor was first established in 1988 and capitalized at 80 million yen ($870,000), and is mostly known for circulating foreign movies from Taiwan and other countries. The company peaked in October 2006, posting annual revenue of roughly 150 million yen ($1.63 million), but business quickly went downhill afterwards. Revenue for the year ending in October 2011 came to only 50 million yen ($543,000). The territorial dispute between China and Japan was quick to take its toll on big industries like car sales and travel, but after five months of tensions, it’s becoming more apparent that the political environment is impeding businesses in other sectors.

Source: http://japandailypress.com/tokyo-film-distributor-prenom-h-blames-senkaku-diaoyu-row-for-bankruptcy-2624070
_________________
From Kobe-City with Love

[sparkles_n15]

Darn. There goes my Tony x Shota collaboration dreams.

From Mingpao

偉仔唔使拍《1905》
日電影公司宣布破產

去年9月，梁朝偉與日本藝人前田敦子有機會合作拍攝中日電影《1905》的消息傳出後，因釣魚島主權問題令中日關係緊張，內地反日情緒高漲，偉仔被網民鬧爆，要求他推戲。當時偉仔經理人公司表示他未動筆簽約，太太劉嘉玲亦指偉仔會無限期擱置演出該片。《1905》形同胎死腹中，昨日有消息指籌拍該片的日本製作公司因資金周轉不靈，宣告破產。

據信用調查公司「日本帝國數據銀行」今日發表，日本電影製作、製片公司「Prenom-H」已經於20日向東京地方法院辦理破產手續，公司目前負債約6億4300萬日圓（約5300萬港幣）。「Prenom-H」去年決定拍攝《1905》，邀請梁朝偉與前田敦子出演，打算在台灣、日本搭建大型外景場地，並預定今年秋天在日本全國上映。誰料中日關係惡化，傳出梁朝偉退出，製作進度停頓，導致公司資金周轉不靈而宣告破產。

+++

Tony Won't Film 1905
Japanese Film Company Announces Bankruptcy

Last September it was announced that Tony Leung would have a chance to collaborate with Maeda Atsuko on a joint Chinese-Japanese film titled 1905. With the escalation of anti-Japanese sentiments in China over territorial issues of the Diaoyu/Senkaku Islands, Tony was highly criticized by netizens who wished for him to drop out from the project. At that time, Tony's management company clarified that he had not formally signed on for the film. Tony's wife Carina Lau also said that he would postpone the film indefinitely. It seems plans for the movie were already over before it began. Yesterday there was news that the production company in charge of funding the film has filed for bankruptcy.

According to corporate credit research company Teikoku DataBank, an announcement was made today revealing that Japanese production company Prenom-H has already filed for bankruptcy on the 20th to the Tokyo District Court. The company's liability was at approximately 643 million yen. Last year Prenom-H decided to film 1905 and invited both Tony Leung and Maeda Atsuko to star in the movie. The film was planned for a fall release and there were plans to shoot on location in both Taiwan and Japan. Unfortunately no one could predict how badly the situation between China and Japan deteriorated. With news of Tony dropping out of the project and the avoidable delays in production, it caused cash flow problems within the company, resulting them to declare bankruptcy.

[nancix**]

Last word for Japan's Prenom H

By Patrick Frater
Tue, 26 February 2013, 13:19 PM (HKT)

Industry News
Japanese film distributor and producer Prenom H has filed for bankruptcy in a Tokyo court.

The micro-distributor was established in 1988 and has handled a range of European and Asian art-house titles including several films by Wong Kar-wai, Tsai Ming-liang and the Hou Hsiao-hsien-presented Three Times (pictured).

According to the court, the company had debts of $6.86 million (Y643 million). In the financial year to last October year it had annual revenues of just $543,000 (Y50 million).

Prenom H joins a growing list of independent distributors in Japan that have collapsed in recent years. Others include Cine Qua Non , Tornado Film , Rumblefish, Wise Policy, Xanadeux and Movie Eye Entertainment.

Financial analysts Teikoku Databank have pointed to the current political tensions between Japan and China as a contributing factor to Prenom H's demise.

The company was expecting to co-produce and co-distribute with Shochiku on 1905 (一九〇五) , a big budget historical drama directed by horror specialist Kurosawa Kiyoshi.

The film was announced in September last year as having a cast that included Japanese actor Shota Matsuda and actress Atsuko Maeda, a former member of the popular girl group AKB48, and The Grandmaster star Tony Leung.

Although he issued a media statement saying that he looked forward to working with Kurosawa, Leung soon appeared distance himself from the project. A new start date and a replacement actor for the key Chinese role in the film have not been announced.

A spokesman for Leung last year told Film Business Asia that Leung had never been formally attached to 1905 and that his signing of a final contract was dependent on approval of the finished script.

Source: http://www.filmbiz.asia/news/last-word-for-japans-prenom-h
_________________
From Kobe-City with Love