Kyoto-headquartered Future Venture Capital has said it will acquire 99.6% of All Nippon Entertainment Works (ANEW) from Innovation Network Corporation of Japan (INCJ). The deal has a target date of June 8; financial terms were not disclosed. ANEW was established in 2012 to spread Japan’s entertainment to English-speaking audiences, adapting, co-developing and producing Japanese content “in partnership with established Hollywood studios,” it said at the time. Its initial capitalization was $80M from the public-private INCJ.

In 2012, veteran industry dealmaker Sandy Climan was named CEO of the enterprise, dividing time between the company’s outposts in LA and Tokyo.

Projects in various stages of development include a live-action adaptation of anime series Tiger & Bunny, produced with Imagine Entertainment; a live-action redo of TOEI Animation’s robot anime Gaiking, with producer Gale Ann Hurd’s Valhalla Entertainment; and an English-langugae version of Takashi Miike’s Shield Of Straw with Luc Besson’s EuropaCorp and Depth of Field.

In a statement, Future Venture Capital said (translated from Japanese) that it would combine with ANEW the “strengths of our company, fund composition and investment function. From that, a business model can be developed that can make better use of (ANEW’s) model and network. We will promote the creation of movies for the global market… We anticipate improvement in value.”