Trading card publisher Bushiroad expanded its stake in CG animation studio Sanzigen, bringing its ownership to 14.4% through a third-party share allocation, the companies said Oct. 17. Terms weren’t disclosed.
The move builds on a 2019 investment when Bushiroad acquired 8.2% of Sanzigen alongside a business partnership. The companies have collaborated on the “BanG Dream!” and “D4DJ” franchises, though broader commercial success of these properties remains tied to Japan’s niche multimedia market.
Sanzigen, established in 2006 by former Gonzo employees, specializes in computer-generated animation for series like “Arpeggio of Blue Steel” and “Bubuki Buranki.” The studio operates under parent company Ultra Super Pictures, which retains majority control.
Bushiroad cited production stability, equipment upgrades and capacity expansion as rationales for the additional capital. Yet Japanese animation studios increasingly face production bottlenecks and rising costs, even as larger entertainment conglomerates like Bushiroad seek deeper vertical integration.
The entertainment firm, which went public in 2019, has pursued various studio investments to secure animation capacity for its intellectual properties. Industry data shows uneven revenue distribution across Japan’s 500-plus animation studios, with smaller contractors often excluded from lucrative production committee arrangements that generate back-end profits.
Whether Sanzigen will participate more substantially in such committees remains unclear.
