NEW YORK, Feb. 11, 2016 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX) and T-Joy Co. Ltd., (T-Joy) a subsidiary of Toei Company Ltd. (Toei), Japan's leading film production and distribution company, and one of Japan's largest exhibitors, today announced an agreement for two IMAX® theatres. The theatres will be added to existing T-Joy complexes in the cities of Tokyo and Yokohama, Japan, and brings to 42, the total number of IMAX screens in the country, of which 25 theatres are currently open and 17 are contracted to open.
The deal marks the first exhibition agreement with Toei Company Ltd. The parties first joined forces in 2013 for the IMAX release of Toei's Dragon Ball Z: Battle of Gods, which marked the first IMAX local-language release in Japan. The film was followed with the 2015 IMAX release of Toei's Dragon Ball Z: Resurrection F. Both films were the highest-grossing titles in Japan during their respective opening weekends.
"Japan continues to be a market that excites us. In 2015, we generated record-setting box office in the country – which surpassed our previous best year in 2012 by almost 30 percent. Driven by the tremendous success of our existing sites, the demand for The IMAX Experience® among consumers and exhibitors is at an all-time high and we are beginning to see these factors coalesce into growth," said IMAX CEO Richard L. Gelfond. "We're delighted to expand our relationship with Toei on the exhibition front, and believe this deal is a testament to the confidence exhibitors have in IMAX to deliver results for their business."
About T-Joy Cinemas
T-Joy is an entertainment company specialized in the operation of multiplex chains as well as the financing and development of digital contents. Since its launch as Japan's first multiplex chain tailored to digital cinema distribution, T- Joy has taken an early lead in the Japanese digital cinema. Taking the initiative in Japanese cinema industry, all T- Joy's cinemas are fully-equipped with digital systems including 3D by July 2010.
Aside from its multiplex theaters, T- Joy also provides alternative contents (Other Digital Stuff, ODS) such as sports, musicals, concerts and many other forms of real-time (live satellite) and pre-recorded events via digital data transmission.
T- Joy's business lines are extensive, operating in a broad spectrum of entertainment fields. The company is also active in distribution, acquisition, and sales of unique and innovative projects (feature films, alternative contents, and film festivals etc.) from all over the world in order to enhance its value chain and strengthen its core competencies.
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 theatres 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, 2015, there were 1,008 IMAX theatres (887 commercial multiplexes, 19 commercial destinations and 102 institutions) in 66 countries. On Oct. 8, 2015, shares of IMAX China, a subsidiary of IMAX Corp., began trading on the Hong Kong Stock Exchange under the stock code "HK.1970."
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.