Webtoon Entertainment's Japanese subsidiary LINE Digital Frontier has revealed its strategic investment in Japanese webcomic and manga studio No. 9.
The deal marks Webtoon Entertainment's first investment in a Japanese studio. Webtoon is owned by the South Korean company Naver.
This minority stake in No. 9 will help “boost Webtoon Entertainment's content pipeline in Japan, the company's fastest-growing market,” Webtoon said in a statement.
No.9 will appoint an external director from LINE Digital Frontier to its board of directors as part of the deal, with LINE Digital Frontier operating both LINE Manga and eBookJapan.
Founded in November 2016, Tokyo-based Studio No. 9 produces and publishes manga and webcomics, with popular IPs such as “Savior of Divine Blood” and “I Am the Strongest Transcendent.” The studio's webcomics have already been localized for Webtoon's global audience, with titles translated into Korean, English, Mandarin Chinese, French, Thai and Indonesian.
“Japan is home to manga and some of the most exciting comic art in the world, so it is a natural growth market for our global business,” said Junko Kim, CEO and Founder of Webtoon Entertainment.
“We have spent years growing our IP and creator ecosystem in Japan, resulting in strong growth and a string of successes. Working with No. 9 Inc., we have already developed global hits with series like ‘Savior of Divine Blood,’ and we are excited to expand our partnership to produce more great Japanese webcomics for local and global audiences.”
Webtoon Entertainment's Japanese LINE Manga app topped the overall app market in terms of revenue, including games, several times in 2024, according to research intelligence firm SensorTower. The company is working with Japanese partners to adapt some of their successful IPs for global audiences, including an anime adaptation of the hit “Omniscient Reader's Viewpoint” series alongside Aniplex and Crunchyroll, and a “GOSU” adaptation with Toei, creators of the long-running series. -Run Dragon Ball and one piece series.
This investment comes at a time when many Japanese companies are seeking to establish international partnerships in an attempt to expand their business globally. For example, Toho was among the first Japanese studios to establish a footprint abroad, including the acquisition of leading anime distributor Gkids in North America. At the TIFFCOM Content Market in Tokyo last year, TBS Holdings and Fuji TV gave presentations on their international expansion plans, which included setting up new offices in the United States and selling and packaging their extensive libraries of intellectual property.
