Pop-music superstar Michael Jackson announced Monday that he has teamed up with a Japanese venture to develop family-oriented children's attractions in Japan and around the world.
Jackson agreed with Prosperity Enterprise Corp, a company formed in 1996 to jump-start small and medium-size Japanese businesses, to put together Michael Jackson Japan Co., Ltd., to be headquartered in Tokyo's Chiyoda Ward and capitalized at 500 million yen.
MJ Japan plans to create large-scale theme parks with golf courses, restaurants, condominiums and other leisure facilities. The company is screening locations for the theme parks, including a potential site in Yokohama, said Kanji Ishizumi, legal adviser for the project.
The new company will also open Wonder World Land of Toys, which will market original Michael Jackson goods as well as toys and character items from around the world.
The first toy store is scheduled to open in Japan by September, 1999, and MJ Japan estimates annual sales of 10 billion yen per store. The second store will open in Guam in March 1999, while five more in Japan and two more overseas are to follow.
Jackson, known for his concern for children, operates these businesses to help them realize their dreams and will personally take part in the planning and production of these operations.