Square Enix, Taito to launch music, film enterprise

Today in Japan, Taito, Square Enix, and Japanese digital content solutions provider Faith Inc. announced that the three companies would fund a new company, Brave Inc. The trio will invest a total of 80 million yen ($680,000) in the startup, with 10 percent coming from Square Enix and 30 percent from Taito, a Square Enix subsidiary. Faith will pony up the remaining 60 percent, taking a controlling stake in the new company. Brave will focus on a few different areas. First, it will have a content promotion and distribution business for ringtones and downloadable karaoke tracks. Brave will also work with music and movie studios to fund and produce their projects, and develop user communities around those movies and recording artists. The new company will start up operations at the end of this month, and its results will be included in Faith Inc.'s consolidated financial statements.