Toho Charts Global Expansion Path Beyond Godzilla

Toho President Hiroyasu Matsuoka leads the company's international push (Source: Nikkei montage/Kotaro Igarashi, Yuki Nakao)

Japan's Toho Company, legendary custodian of the Godzilla franchise, is embarking on an ambitious global expansion strategy to counter domestic market saturation. President Hiroyasu Matsuoka confirmed plans to triple the proportion of operating revenue coming from overseas markets by 2032, signaling a fundamental shift for the entertainment conglomerate.

This strategic pivot comes amid persistent challenges in global cinema attendance. Despite the pandemic's conclusion, U.S. moviegoing frequency remains significantly below pre-2020 levels. Against this backdrop, Toho is testing international appetite for deeply Japanese content, exemplified by "Kokuho"—a three-hour, subtitled drama exploring the careers of Kabuki actors.

The company's expansion leverages its unique intellectual property portfolio beyond Godzilla, including:

• Character Partnerships: Collaborative ventures with Sanrio (Hello Kitty) to monetize character libraries globally
• Retail Expansion: Flagship stores like Tokyo's One Piece venue serving as blueprints for international outlets
• Film Exports: Adapting successful domestic formats like Kabuki theater for overseas audiences
• Merchandising: Trading card initiatives featuring franchises from Gundam to Godzilla

Industry analysts note Toho faces complex challenges in scaling its model internationally. While anime enjoys global popularity, other traditional Japanese art forms require careful cultural adaptation. The company must also navigate differing entertainment consumption patterns across regions and develop localized merchandising strategies.

Toho's move mirrors broader Japanese entertainment industry trends. Competitors like Sony Pictures have recently shifted distribution strategies, while anime producers continue struggling to fully monetize global merchandise opportunities. With Hello Kitty's Hollywood debut scheduled for 2028 and Kabuki returning to world stages, Toho's expansion represents a high-stakes bet on international appetite for diverse Japanese storytelling.