Publishing giant Kodansha Ltd.'s recent decision to close down its subsidiary, Kodansha International Ltd., by the end of April reflects the firm's change in its business strategy from shipping its English-language books made in Japan to publishing and distributing them in its largest market, North America.
Established in 1963, Kodansha International publishes various titles of Japanese fiction, nonfiction and manga, translated into English. It also publishes original books of various genre, from martial arts, Japanese cooking and popular culture.
"Kodansha International began in 1963 with the mission to introduce Japanese culture to people overseas, and we've edited, printed and exported the books, but this was a business model established from the time when (the exchange rate) was ¥360 to the dollar," said Nobuyuki Suzuki, head of the public relations department of Kodansha, pointing out the influence of the change in the currency rates.