🎬 The studio behind Godzilla is storming Europe. Toho just acquired a UK anime distributor, set up European HQ in London, and partnered with Germany's biggest independent film distributor. Their target? A $4.8 billion anime market that's expected to double by 2030. Here's why Japan's entertainment giants are no longer content to just license — they want to own the pipeline.
Toho Acquires UK's Anime Limited
On December 19, 2025, Japanese entertainment powerhouse Toho announced it had acquired 100% of UK-based anime distributor Anime Limited from Germany's Plaion Pictures. The Glasgow-founded company will now operate as a standalone subsidiary under Toho Global, Toho's overseas business arm. Financial terms were not disclosed.
Anime Limited has been one of the UK's leading Japanese content distributors since its founding in 2012. The company handles theatrical distribution, home video (Blu-ray and DVD), and streaming rights across the UK and France. Its track record includes major titles like Makoto Shinkai's Your Name and Weathering With You, Studio TRIGGER's Promare, the Attack on Titan series, the Jujutsu Kaisen series, and Toho's own Godzilla Minus One — which became the highest-grossing Japanese live-action film in UK box office history.
Founder and Managing Director Andrew Partridge will remain with the company, along with the entire Anime Limited staff. Partridge will also join the leadership team of Toho's new European regional headquarters, set to be established in London by the end of 2025.
Strategic Alliance With Germany's Plaion Pictures
Alongside the acquisition, Toho and Plaion Pictures have entered into a strategic alliance. Under this arrangement, Plaion Pictures becomes Toho's preferred distribution partner across Germany, Italy, and other European territories.
This creates a two-pronged European strategy: Toho handles the UK and France directly through Anime Limited, while Plaion Pictures extends Toho's reach across continental Europe using its established distribution network. Plaion Pictures is one of Europe's leading independent distributors, covering the full value chain from theatrical release to home video, TV sales, and its anime-focused consumer platform "Aniverse."
Koji Ueda, President of Toho Global, commented that the move gives Toho "immediate pan-European distribution capability" and access to Plaion's merchandise infrastructure, accelerating the timeline for its long-term management strategy.
Europe's Anime Market: From Niche to Nearly $9 Billion
The timing is no coincidence. Europe's anime market is experiencing explosive growth. Industry estimates put the 2024 market value at approximately $4.77 billion, with projections reaching $9.05 billion by 2030 — a compound annual growth rate (CAGR) of 11.2%.
France has long been one of the world's most passionate anime markets outside Japan, but the boom is now spreading across the continent. Germany, Italy, Spain, and the Nordic countries are seeing rapid fan base growth, fueled by anime-focused streaming content, theatrical screening events, and the mainstream adoption of cosplay and convention culture.
Toho's Global "Three-Pillar" Strategy Is Complete
The European expansion is the final piece in Toho's global infrastructure puzzle. The company has been building an international presence at remarkable speed.
In October 2024, Toho acquired GKIDS, the US-based distributor known for releasing Studio Ghibli films and award-winning animation in North America. One month later, in November 2024, the company established Toho Entertainment Asia in Singapore to serve Southeast Asian markets. Now, with the London headquarters, Toho has operational bases across all three major global regions: Asia, North America, and Europe.
A particularly interesting detail is that Anime Limited and GKIDS had maintained a 15-year cooperative relationship before the acquisitions. This suggests Toho's European move wasn't opportunistic — it was a carefully orchestrated strategy to bring existing partners under one roof.
TOHO VISION 2032: The Master Plan
Behind all these moves is "TOHO VISION 2032," the company's long-term management strategy unveiled in 2022 as Toho looks toward its 100th anniversary. The plan identifies "Overseas" and "Animation" as the two key growth drivers, with ambitious targets:
- Increase overseas revenue share to 30% by 2032
- Establish anime as the company's "fourth pillar" alongside film, theater, and real estate
- More than double operating profit from IP and anime operations
- Invest approximately $1 billion (150 billion yen) in Godzilla IP development over three years
- Allocate roughly $8 billion (1,200 billion yen) for growth investments including M&A in content and IP
Toho has also been strengthening its production capabilities. The company acquired anime studio Science SARU (known for Inu-Oh and Scott Pilgrim Takes Off), invested in Comix Wave Films (Makoto Shinkai's production studio), and took a stake in CG animation specialist Orange. A joint venture with Good Smile Company called "To-Smile" bolsters merchandise operations.
A New Era for Japanese Entertainment Companies Abroad
Japanese entertainment companies have traditionally relied on licensing deals — selling distribution rights to overseas partners and collecting royalties. Toho's approach represents a fundamental shift: establishing local operations that control distribution, marketing, merchandise, and even retail (like the Godzilla Store locations opening in Malaysia and Taiwan).
This isn't unique to Toho. Sony's Aniplex has been expanding direct operations in North America and Europe, and Bandai Namco is accelerating global IP development. The entire Japanese content industry is moving from "create and license" to "create, distribute, and cultivate" — building direct relationships with fans worldwide.
Toho has noted that these acquisitions will have a "negligible" impact on current fiscal year results, emphasizing that this is a medium- to long-term growth investment. But if Europe's anime market doubles as projected, this strategic bet could fundamentally reshape the company's revenue structure within just a few years.
In Japan, anime is as natural as breathing — it's everywhere, all the time. But in Europe, the anime wave is still building momentum. How popular is Japanese anime in your country? And what do you think about Japanese entertainment companies setting up shop directly in your market?
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Reactions in Japan
So Anime Limited was the one that handled Godzilla Minus One's UK distribution? The film's overseas success must have been partly due to their distribution expertise. Seems like a smart acquisition by Toho.
Toho is steadily executing TOHO VISION 2032. GKIDS, then Singapore, now London — they completed their three-region global structure in just one year. Rare to see a Japanese company expand overseas this fast. Wonder if the stock price will react.
Toho's on an acquisition spree — GKIDS, Science SARU, Gaie, and now a UK company. Where's all this money coming from? Are they dumping their real estate profits into anime?
France has had anime culture since the Goldorak (Grendizer) era. Anime Limited covering both UK and France makes total sense. Toho grabbed a great strategic position.
Everyone's excited about overseas expansion, but the production floor is still brutal. What I really want to know is whether the overseas profits will actually improve working conditions for animators.
Laying out Toho's strategy chronologically: production (Science SARU, Comix Wave Films, Orange) → North American distribution (GKIDS) → Asian hub (Singapore) → European distribution (Anime Limited + Plaion). They've covered the entire value chain from upstream to downstream. Unrecognizable from the Toho of 10 years ago.
It all comes down to whether the anime titles they produce are hits or not. Building a fancy distribution network means nothing if the content flops. Toho needs to win with their eye for picking projects.
150 billion yen into Godzilla IP over three years?! So Toho's own Godzilla will be separately expanding in Europe alongside the MonsterVerse. Plus a Godzilla Store opening in Malaysia. The Godzilla era is here.
I live in London. Anime Limited is genuinely important to UK anime fans — their ALL THE ANIME limited edition Blu-rays are hugely popular. I hope the dedication continues under Toho. Worried about corporate culture clashes.
Toho (9602) targets 30% overseas revenue share. I wonder where they are now — maybe around 10%? If so, they still need to triple it. Acquisitions alone won't cut it; organic growth is needed too. Hopeful but it'll take time.
Happy that my favorite anime will be available through official channels in Europe too. Hope this reduces piracy sites. I want a system where money actually flows back to the creators.
Crunchyroll is Sony, Funimation is Sony, and now Anime Limited is Toho. European anime distribution is steadily falling under Japanese companies' control. For better or worse.
What's interesting is the Plaion Pictures partnership structure. Going with a strategic alliance rather than full acquisition shows Toho understands the complexity of the German and Italian markets. Local business customs vary enormously.
We're studying Japanese companies' global strategies in my seminar, and Toho's case is textbook-worthy. Buy time through M&A, spread risk through alliances, leverage existing relationships. It's textbook perfect.
As major companies keep vertically integrating, I'm worried independent creators and small studios will find it harder to get their work distributed. If Toho titles get prioritized exclusively, the market loses its diversity.
I want Toei and TBS Animation to step up too, not just Toho. Rather than one company dominating, it'd be better if Japanese content companies as a whole increased their international presence.
Anime Limited spent over a decade painstakingly building the UK anime market. The ALL THE ANIME store's limited collector's editions are like treasures. Toho made the right call keeping Andrew Partridge and the full staff. Without their passion, Anime Limited just wouldn't be the same.
France is one of Europe's biggest anime markets. Japan Expo draws over 250,000 people every year. I fully welcome Toho directly covering the French market. It would be amazing if this means better quality dubbing too.
Good news that Plaion Pictures stays as the German market partner. Germany's anime market has its own quirks, and foreign companies coming in directly without local knowledge rarely succeed. A partnership is the best approach.
After GKIDS, now Anime Limited too. Toho is building an ecosystem to deliver their content globally by themselves. They're trying to do in a few years what Disney took decades to build. Different scale, same mindset.
In Italy, anime has been part of our culture since childhood. Lupin III and Dragon Ball were practically national anime. If the Plaion partnership means more Toho titles reach Italy, I'm thrilled. Just please maintain quality Italian dubbing.
Europe is in the announcement, but Eastern Europe and Russia are a different story. In regions without official distribution, fans still rely on fansubs. I hope Toho expands coverage to more territories in the future.
Korean content companies are also going global, but Toho's approach is different. They acquire established local firms, keep the brand alive, and channel their own IP through them. Not killing the acquired company's identity is smart. CJ ENM could learn from this.
Europe is great, but what about Australia? Madman Entertainment used to handle our distribution but they've been weakening lately. Really hoping Toho turns its attention to Oceania next.
Latin America feels completely ignored. Mexico and Brazil have massive anime fanbases. After Europe, please come to our region next, Toho.
Anime popularity keeps growing in Sweden too. I'd be happy if Plaion's partnership covers the Nordics, but small markets always get deprioritized. Hoping for Scandinavian subtitle support.
From Ireland. Anime Limited covered our market through the UK, so the acquisition itself is fine. But post-Brexit logistics have made Blu-ray shipping from the UK a hassle. Hope Toho can improve that.
As a Middle Eastern anime fan, I welcome Japanese companies accelerating overseas expansion. But it's always Europe and North America. Please bring more official streaming to the MENA region too. Come see how big anime events in Dubai have gotten.
Canadian here. GKIDS made Ghibli films and indie anime so much more accessible for us. If the same thing happens in Europe through Anime Limited, it's great for anime fans worldwide.
Poland's anime community is growing fast, yet official distribution is still poor. German-speaking markets get Plaion, but what about Central European countries like Poland and Czech Republic? There's opportunity here too.
From Nigeria. Africa has a massive invisible anime fanbase. Many countries can't even use Crunchyroll properly. I hope Toho considers the African market eventually. The market size is small but the growth rate might be the highest anywhere.