The production company Fan entertainment's stock price hit its highest level in a year. The news of acquiring Media Castle, the film company responsible for the income and distribution of films such as 'Your Name' and 'Suzume's Locking Up', appears to have stimulated investor sentiment.
As of 10:55 a.m. on the 14th, Fan entertainment is trading at 3,785 won, up 355 won (10.35%) from the previous day. The stock rose to as high as 4,050 won during the day, setting a new yearly high.
Fan entertainment announced that it has acquired Media Castle. Media Castle has been responsible for the income and distribution of several hit films, including Makoto Shinkai's 'Suzume's Locking Up' and 'Your Name', which ranked first in domestic box office among Japanese animated films.
Fan entertainment explained that through this acquisition, it has emerged as a comprehensive studio encompassing film investment, production, income, and distribution.
Fan entertainment's stock price surged recently due to the high expectations for the Netflix series 'When Life Gives You Tangerines', starring IU and Park Bo-gum. On the 10th, the stock rose by 22%, reaching the upper limit during the day, and the stock price increase rate was close to 30% up to the previous day.