US investment fund Blackstone says it's acquiring the Japanese operator of major online manga provider Mecha Comic. The aim is to tap the growing global market.
Blackstone announced on Tuesday that it's making a tender offer for Mecha Comic's operator, Infocom.
The fund has agreed to buy over 57 percent of Infocom's shares from its parent company Teijin, a major textile maker.
The total acquisition cost is estimated to be 275 billion yen, or about 1.7 billion dollars.
Mecha Comic launched in 2006. A subsidiary of Infocom also started operations in the United States last year.
Japan's Research Institute for Publications says the domestic market for manga, including both paper and electronic editions, reached a record high in 2023. That was up 2.5 percent from the previous year.
The Japanese government positions the country's content industry, including manga, as a key sector.
Blackstone plans to expand related businesses and produce animated versions of the most popular titles.