IMAX AND AEON TO EXPAND PARNTERSHIP WITH TWO NEW STATE-OF-THE-ART IMAX WITH LASER LOCATIONS IN JAPAN

Rhea-AI Summary

IMAX Corporation announced an expansion of its partnership with AEON Entertainment to install two new IMAX with Laser systems in suburban Tokyo and Osaka. This agreement aims to strengthen IMAX's growing presence in Japan, where it has increased its screen count from 13 to 39 in the last decade. Japan generated over $46 million in revenue for IMAX in 2021, ranking as its third highest market. The new systems, featuring advanced 4K laser projection technology, are part of IMAX's strategy to capitalize on local film successes, particularly Japanese anime, enhancing the cinematic experience for Japanese audiences.

Positive

• Expansion of IMAX's network in Japan with two new installations.
• Increase in IMAX screens from 13 to 39 over the last decade.
• Japan ranked as IMAX's third highest grossing market with over $46 million in 2021.
• Record earnings of $32.6 million from Japanese language releases in 2021, up from $2.5 million in 2017.
• Enhanced cinematic experience through new IMAX with Laser technology.

Negative

• None.

New Agreement for Theatres in Suburban Tokyo and Osaka Set to Advance Strong IMAX Network and Box Office Growth in Japan

TOKYO and NEW YORK, April 26, 2022 /PRNewswire/ -- AEON Entertainment and IMAX Corporation (NYSE: IMAX) today announced plans to expand their partnership with an agreement for two new, state-of-the-art IMAX® with Laser systems in Japan. Both new systems will be located at prime retail complexes in thriving suburbs of major Japanese cities, including the AEON Cinema Ichikawa Myoden outside Tokyo and AEON Cinema Shijonawate near Osaka.

The deal marks a significant step forward for IMAX and AEON — one of the major exhibitors in Japan — at a time when IMAX is driving remarkable growth in the market across its network, box office, and local filmmaking partnerships. IMAX has tripled its network in Japan over the last ten years, from just 13 screens in 2011 to 39 today. With more than $46 million, Japan was IMAX's third highest grossing global market in 2021, with eight of the Company's top 15 highest grossing theaters. Furthermore, Japan is the only IMAX market with more than ten theaters to have an overall per screen average of more than $1 million in 2021.

"We are excited that our expanded partnership with IMAX — an innovative technology for groundbreaking cinematic experiences — will drive even more value for our theatres," said Mr. Yasuhiro Asada, President and Representative Director, AEON ENTERTAINMENT Co., Ltd. "We will continue to enhance our state-of-the-art facilities and services as part of our mission to deliver a variety of exciting experiences to our customers."

"From its growing global blockbuster portfolio to outsized box office returns, Japan is a thriving market for cinema with some of the most passionate IMAX fans in the world," said Rich Gelfond, CEO of IMAX. "We are excited to expand our partnership with AEON, one of the world's premier exhibitors, and continue to grow IMAX as a premier destination for entertainment and events in Japan and around the globe."

IMAX's momentum in Japan has been driven in large part by its local film strategy, with IMAX earning a record $32.6 million in global box office with Japanese language releases in 2021 — up from $2.5 million in 2017. Japanese anime has emerged as a particularly strong growth area for IMAX, from the recent "Jujutsu Kaisen 0" to 2020's "Demon Slayer", the highest grossing IMAX film of all time in Japan.  Upcoming Japanese titles releasing in IMAX include Toho's "Detective Conan: The Bride of Halloween" on April 15 and "Shin-Ultraman" on May 13, and Toei's "Dragon Ball Super: Super hero".

The new locations will be equipped with IMAX with Laser, IMAX's most advanced theatre experience. Immersive by design, IMAX with Laser has been developed from the ground-up to deliver crystal clear, lifelike images and precision audio for a moviegoing experience unlike anything else. It is set apart by a groundbreaking 4k laser projection system that features a new optical engine, custom designed lenses, and a suite of proprietary technology that delivers brighter images with increase resolution, deeper contrast, and the widest range of colors exclusively to IMAX screens.

About IMAX Corporation

IMAX, an innovator in entertainment technology, combines proprietary software, architecture and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX theaters to connect with audiences in extraordinary ways, and, as such, IMAX's network is among the most important and successful theatrical distribution platforms for major event films around the globe. 

IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of December 31, 2021, there were 1,683 IMAX theater systems (1,599 commercial multiplexes, 12 commercial destinations, 72 institutional) operating in 87 countries and territories. Shares of IMAX China Holding, Inc., a subsidiary of IMAX Corporation, trade on the Hong Kong Stock Exchange under the stock code "1970." 

IMAX®, IMAX® Dome, IMAX® 3D, IMAX® 3D Dome, Experience It In IMAX®, The IMAX Experience®, An IMAX Experience®, An IMAX 3D Experience®, IMAX DMR®, DMR®, IMAX nXos® and Films to the Fullest^®, are trademarks and trade names of the Company or its subsidiaries that are registered or otherwise protected under laws of various jurisdictions. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Instagram (https://www.instagram.com/imax), Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).

For additional information please contact:

Investors:
Heather Anthony
hanthony@imax.xom
212.821.0121

Media:
Mark Jafar
mjafar@imax.com
212.821.0102

 

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SOURCE IMAX Corporation

FAQ

What new agreement did IMAX announce in April 2022?

IMAX announced a partnership expansion with AEON Entertainment for two new IMAX with Laser systems in suburban Tokyo and Osaka.

How many IMAX screens are currently in Japan?

As of now, Japan has 39 IMAX screens, up from just 13 a decade ago.

What was IMAX's revenue from Japan in 2021?

In 2021, Japan generated over $46 million in revenue for IMAX, making it the company's third highest grossing market.

What is IMAX's local film strategy in Japan?

IMAX has implemented a local film strategy that earned a record $32.6 million from Japanese language releases in 2021.

What technology will the new IMAX locations feature?

The new IMAX locations will be equipped with advanced IMAX with Laser technology, offering enhanced image and audio quality.