Japan's Top Exhibitor to make IMAX a Main Attraction at its New Iconic Tokyo Site
Agreement Builds on IMAX's Recent Box Office Success in Japan with Transformers: Age of Extinction and Godzilla
NEW YORK, Nov. 13, 2014 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX; TSX: IMX) and Toho Cinemas Ltd., Japan's highest-grossing exhibition company and subsidiary of Toho Co. Ltd., the largest film production and distribution company in Japan, announced an agreement for an IMAX® theatre to be added to Toho's new development in Shinjuku, the commercial, business and entertainment center of Tokyo. The new construction project will include a hotel, restaurants, retailers and the Toho Cinemas Shinjuku where IMAX will serve as the multiplex's anchor entertainment attraction. The deal marks the Company's first agreement with Toho Cinemas and the first IMAX theatre to be located in downtown Tokyo.
IMAX opened its first commercial multiplex theatre in Japan in 2009 and has since expanded its contracted commercial network to 23 theatres, of which 17 are open. The demand for The IMAX Experience® continues to grow as evidenced by recent IMAX releases including Transformers: Age of Extinction, and Godzilla, which are among our highest-grossing opening weekends ever in Japan.
"Japan is the third-largest film market in the world and as evidenced by today's agreement and our recent box office success, our activity in this market continues to increase," said IMAX CEO Richard L. Gelfond. "It has been our experience that when new exhibitors enter our business, especially in a market with strong results, it often leads to greater demand. As such, we're delighted to welcome Japan's number one exhibitor to the IMAX business and bring the world's most immersive cinematic experience to such an iconic site in Tokyo."
"With the tremendous IMAX success of Godzilla and Transformers in Japan, we've witnessed the power of IMAX to deliver a differentiated experience that will attract audiences," said Mr. Kazuhiko Seta, President of Toho Cinemas Ltd. "As such, the addition of an IMAX theatre in the iconic Shinjuku area, at the Toho Cinemas Shinjuku, will create a landmark entertainment destination for the city of Tokyo. As this will be the beginning of our exciting new partnership, we look forward to further opportunities to leverage IMAX as a competitive advantage and delight more audiences throughout Japan."
About Toho Cinemas Ltd.
Toho Cinemas is an exhibiting company that provides latest entertainment with a wide-ranging and diverse lineup including films, concerts, live stage performances and public viewing for sports through 65 theatres consisting of 596 screens* nationwide. More information on films and services can be found at www.tohotheater.jp. *Includes jointly managed 5 theatres 56 screens
TOHO Cinemas® is a registered trademark of TOHO Cinemas Ltd. All Rights Reserved.
About IMAX Corporation
IMAX, an innovator in entertainment technology, combines proprietary software, architecture and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX theaters to connect with audiences in extraordinary ways, and, as such, IMAX's network is among the most important and successful theatrical distribution platforms for major event films around the globe.
IMAX is headquartered in New York, Toronto and Los Angeles, with offices in London, Tokyo, Shanghai and Beijing. As of September 30, 2014, there were 880 IMAX theaters (751 commercial multiplexes, 19 commercial destinations and 110 institutions) in 60 countries.
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience®, The IMAX Experience®, IMAX Is Believing® and IMAX nXos® are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).
This press release contains forward looking statements that are based on IMAX management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. These risks and uncertainties are discussed in IMAX's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.