Japan is moving to end the Cool Japan Fund, the public-private investment initiative launched in 2013 to expand Japanese culture and businesses overseas. The decision comes after the fund recorded cumulative losses of approximately ¥54 billion by the end of fiscal 2025, far exceeding its revised target.
The move does not mean Japan is abandoning its efforts to promote anime, manga and other creative industries internationally. Instead, the government is shifting toward direct support programs that focus on helping Japanese content reach overseas audiences.
Cool Japan Fund’s Anime and Manga Strategy Faces Financial Reckoning
The Cool Japan Fund was created to provide investment capital for projects capable of expanding Japan’s cultural influence abroad. Its portfolio included media, content, lifestyle businesses, food and tourism, with the government providing the majority of its capital.
However, the fund struggled to generate the financial returns expected from its investments. According to The Japan Times, the government is moving toward abolishing the fund while expanding a separate grant program for Japanese content.
The contrast is significant because anime and manga have continued to gain international popularity despite the fund’s financial problems. Japan’s government still aims to increase overseas sales of Japanese content to ¥20 trillion by 2033, demonstrating that Tokyo remains committed to the global expansion of its entertainment industries.
Japan’s new approach includes the IP360 program, which provides project-based support rather than taking equity positions in businesses. This could allow the government to continue supporting anime, manga and other Japanese intellectual property while avoiding some of the investment risks associated with the Cool Japan Fund.
