Planning For Life After Miyazaki, Studio Ghibli Sells Controlling Stake To Nippon TV

Studio Ghibli co-founders Hayao Miyazaki and Toshio Suzuki have been trying to create a succession strategy for their company for years. Now, it appears they finally have a plan in place.

On Thursday, executives from the studio and leading Japanese broadcaster Nippon Television Network Corporation announced a deal that sees the broadcaster acquire a 42.3% stake in the legendary animation production company. When the agreement is finalized in October, Ghibli will become a subsidiary of Nippon TV, and executives from the broadcaster will take charge of the studio.

What’s going to change at Ghibli? According to The Japan Times, Nippon TV senior operating officer and board director Hiroyuki Fukuda will lead Ghibli going forward, although Nippon TV says the studio’s animation and artistic operations will maintain complete creative independence. Suzuki, who returned to his former position as studio president earlier this year, will shift to the role of chairman, and Miyazaki will become an honorary chairman.

Why is Ghibli doing this? The future of Studio Ghibli has been a significant issue for years. According to a release put out by the company on Thursday, “At Studio Ghibli, director Hayao Miyazaki is now 82 years old, and producer Toshio Suzuki is also 75 years old, and the issue of succession has been a problem for a long time.” In Miyazaki’s case, it’s about more than just age. The director has been hinting at retiring for over two decades, although studio VP Junichi Nishioka recently said that Miyazaki has no plans to retire anytime soon and is still a daily presence at the studio. In any case, Suzuki and Miyazaki won’t be able to run the studio forever, and this deal ensures that Ghibli will continue operations after they’re gone.

Do these companies have a previous relationship? In 1985, Nippon TV aired Miyazaki’s Nausicaä of the Valley of the Wind and has been broadcasting Ghibli films ever since as part of its weekly movie program “Friday Road Show.” The broadcaster also financially backed numerous Ghibli productions and the construction of the Ghibli Museum in Mitaka, which opened in 2001.

What does Nippon TV get out of the deal? For starters, one of the most important animation studios in modern history. Ghibli’s brand is global, far more than almost anything in Nippon TV’s portfolio. According to the broadcaster, making Ghibli a subsidiary will “greatly contribute to increasing the corporate value of Nippon Television Group as a whole.”

Wasn’t Miyazaki’s son supposed to take over? According to Ghibli’s release, that was the plan for a time. However, Goro Miyazaki decided against taking over, “believing that it would be difficult to carry Ghibli alone and that it would be better to leave the future of the company to others.” The studio says that once Goro Miyazaki removed himself from the running, a search began to find the right person or organization to take over the studio after Miyazaki and Suzuki decide to retire.