‘Godzilla’ Studio Toho to Buy US Animation Distributor GKIDS

Japanese entertainment conglomerate Toho Co. will acquire a major US animation distributor, its latest push to embrace animation and expand beyond its home market.

Toho’s US unit will buy 100% of the shares in New York-based GKIDS Inc., according to a statement Wednesday. The company will become a wholly owned subsidiary, with both CEO and president remaining in their roles. The two firms have already worked together to release films in the US, with GKIDS handling last year’s Oscar-winning Studio Ghibli feature The Boy and the Heron. Financial terms were not disclosed.