Warner Music Japan is the latest major label division to diversify through acquisition by buying a 70% stake in Tokyo based 'artists services' company Taisuke, a cross sector music firm who have operations in the management, recorded music and copyright administration domains.
The deal was confirmed by the company's founder, Taisuke Morimoto, who told reporters: "This is an opportunity for both Warner Music and Taisuke to build business together and to benefit our artists through the use of new business models in the Japanese marketplace". According to Billboard, Morimoto will continue to head the company, working closely with WMJ President Takashi Yoshida.
Confirming the deal from his side, Yoshida said in a statement yesterday: "This is an important strategic investment for us as we continue to transform our business and expand the range of services we can offer. Not only does this enable us to form broader partnerships with our artists, bringing someone of Mr Morimoto's calibre on board also strengthens our expertise in areas we plan to develop further, such as live performance, ticketing, merchandise and endorsement".