new manga editorial: JAPANESE ENTERTAINMENT GIANTS TO FORM GLOBAL ENTERPRISE

JAPANESE ENTERTAINMENT GIANTS TO FORM GLOBAL ENTERPRISE SPECIALIZING IN ANIMATION AND MANGA

press release

ShoPro Entertainment Inc. and VIZ, LLC to Merge

(San Francisco — January 25, 2005) — ShoPro Entertainment Inc. and VIZ, LLC ("VIZ"), two prominent North American based companies specializing in Japanese content, are merging this spring to create a groundbreaking new entertainment company. The still unnamed venture ("NEWCO"), to be based in San Francisco, will leverage the unique collaboration, vision and ownership of three global powerhouses in Japanese manga and animation, Shueisha Inc., Shogakukan Inc. and Shogakukan Production Co., Ltd. ("ShoPro Japan").

Merging ShoPro Entertainment and VIZ is a natural progression for both companies, who have successively collaborated on such hit properties as INUYASHA and MEGAMAN NT WARRIOR, among others. As one entity, NEWCO will benefit from pooled resources and creative talent, and gain access to Japan's strongest content, augmenting its ability to reach a wider audience. NEWCO's mission will be to enrich lives worldwide through the highest quality entertainment and unmatched storytelling.

ShoPro Entertainment - an affiliate of ShoPro Japan, a subsidiary of Shogakukan Inc., one of Japan's largest publishing companies - is a leading global licensor specializing in animation, entertainment production and consumer products for such properties as INUYASHA and MEGAMAN NT WARRIOR. VIZ - a subsidiary of Shogakukan Inc. and Shueisha Inc. - is a leading publisher of manga for English speaking audiences, including the best-selling graphic novel titles YU-GI-OH!, DRAGON BALL, ALICE 19TH, RANMA 1/2, and the mega-hit SHONEN JUMP magazine. VIZ is also a top producer of Japanese animation home video/DVD titles such as POKEMON, INUYASHA and BOYS OVER FLOWERS.

"We are uniquely positioned to develop entertainment content across all available mediums for people of all ages on a worldwide basis," said Hidemi Fukuhara, Vice Chairman of VIZ and incoming President and CEO of NEWCO. "Combining our collective strengths creates obvious brand building synergies. Merging and incorporating the expertise and support of Japan's three largest and most respected content creators, provides NEWCO with a significant competitive advantage."

Harnessing VIZ' and ShoPro Entertainment's combined assets, NEWCO aims to become an industry leader worldwide for audiences of all ages. Going forward, NEWCO will grow its business by working with its parent companies to maximize their brands' exposure on an all rights basis, including TV broadcast, publishing, home video, licensing, consumer products and promotions.

"In order to nurture and grow the worldwide exposure of Japanese manga and animation," said Osamu Kamei, Executive Director of Shogakukan Inc., "we have decided to step beyond the corporate framework that exists in Japan, and form a new globally oriented company by merging VIZ and ShoPro Entertainment. I strongly believe that the partnership of the three companies, Shueisha, Shogakukan and ShoPro Japan, will be a major step forward for the Japanese contents business."

Kazuhiko Torishima, Executive Director of Shueisha, Inc. explained, "At the root of the globally successful Japanese character business, is manga. The question we face is how to best communicate and introduce the culture of manga to children around the world. We believe the answer lies in NEWCO, which will allow us to unify and manage our business under one roof. In this regard, we will be able to respond much faster to market needs and thus greatly expand the exposure of manga."

Senior Executive Director of Shogakukan Production Co., Ltd., Yutaka Saito, added, "We have made much progress in cultivating the worldwide market for Shogakukan's content business. We are now deeply honored to partner with, not only Shogakukan, but also Shueisha, whose content has achieved so much success and acclaim. By representing all rights for our brands, we will be able to maximize our exposure on a global scale. We are excited about making this happen."

About ShoPro Entertainment
Headquartered in San Francisco, CA, ShoPro Entertainment is a leading global licensor of animation, and all associated rights including merchandise, home video, motion picture, and publishing. ShoPro Entertainment, affiliate of ShoPro Japan, a subsidiary of Shogakukan Inc., one of Japan's largest publishing companies, develops and markets animated entertainment starting from initial production, television placement and distribution, to merchandise licensing and promotions reaching audiences and consumers around the world. To date, ShoPro Entertainment has introduced multi-million dollar animated entertainment series including Hamtaro, Inuyasha, MegaMan NT Warrior and Mirmo to broadcasters and consumers worldwide. For more information on ShoPro Entertainment, visit www.shopro-entertainment.com.

About VIZ, LLC
Founded in 1986, VIZ is a multi-media entertainment company specializing in Japanese entertainment properties for U.S. audiences. Based in San Francisco, CA, VIZ, one of the top comics publishers in the U.S, is a subsidiary of Shogakukan Inc. and Shueisha Inc., two of the largest publishing companies in Japan. As a leading publisher of manga and producer of animation for English speaking audiences, VIZ serves the growing Japanese content market for fans of all ages and offers an integrated product line including magazines, graphic novels, videos, DVD's and audio soundtracks. VIZ has expanded its offerings of some of the most innovative products in the industry through web sites such as www.shonenjump.com and its corporate site, www.viz.com.

Contact VIZ, LLC at: 655 Bryant Street, San Francisco, CA 94107-1612; Phone: (415) 546-7073; Fax: (415) 546-7086; Web site: www.viz.com

SHOPRO ENTERTAINMENT NAMED MASTER LICENSOR FOR JAPANESE PHENOMENON, NARUTO

TV TOKYO Corporation and Shueisha Inc. Appoint ShoPro Entertainment to Represent TV, Home Video and Merchandising Rights in North America and Latin America for Much Anticipated Ninja Hit, Naruto

San Francisco, CA, February 15, 2005 — ShoPro Entertainment, Inc. which recently announced its upcoming merger with VIZ, LLC to form one of the entertainment industry's most innovative, comprehensive manga and animation licensing and publishing companies, announced today that it has secured from worldwide licensors, TV TOKYO Corporation and Shueisha Inc., the television, home video and merchandising rights to Naruto for North America and Latin America. The appointment of ShoPro Entertainment as Master Licensor was facilitated by TV TOKYO Medianet, the licensing arm of TV TOKYO.

ShoPro Entertainment, the San Francisco based affiliate of ShoPro Japan, plans to introduce a dynamic roll-out strategy that will leverage the strong manga and entertainment brand into a broad licensing and marketing program. Naruto's television broadcast partner and key licensing partners will be determined shortly.

"We are ecstatic about Naruto! It is a great privilege to be bringing such an outstanding property to the Americas," said John Easum, Senior Vice President of ShoPro Entertainment. "Naruto became an explosive hit in Japan after it was first launched in Shueisha's Weekly Shonen Jump magazine in 1999 and it continues to be an enormous success. Naruto has also established a very large American fan base through the US manga series published by VIZ. We anticipate a huge success."

First introduced into the Weekly Shonen Jump magazine in Japan in 1999, Naruto quickly became Japan's most popular ninja manga. In 2000, Naruto was expanded into a series of graphic novels and is currently in its 26th volume, with nearly 49 million copies sold in total in Japan. Weekly Shonen Jump, published by one of Japan's largest publishers, Shueisha Inc., is considered the world's most successful comic magazine with over 3 million copies printed weekly in Japan alone.

Since 2003, the Naruto series has been serialized in the US edition of the monthly Shonen Jump, and published as a graphic novel series by VIZ, LLC. At retail, Naruto consistently ranks as one of the top graphic novel titles in the US and one of the most popular titles serialized in SHONEN JUMP. The manga has also been published in most major markets in Europe and Asia to great success.

Targeting tweens and teens, the Naruto animated series, produced by PIERROT CO., LTD. debuted in Japan in October 2002 on TV TOKYO and quickly established itself as one of TV TOKYO's highest rated animated series. Today, Naruto is considered one of the most popular animated series in Japan's history and has achieved immense success not only as a manga and TV title, but also in the realm of licensed categories such as toys, trading card games and video games.

The story of Naruto takes place in another world where ninjas are the ultimate power. In the village of Konohagakure live some of the stealthiest and most respected ninjas in the land. But 12 years prior, Konohagakure faced a fearsome threat - a nine-tailed fox demon, which terrorized the village and caused massive destruction before it was finally defeated. The Hokage, the village leader and most powerful ninja, was able to subdue the fox by sealing its soul inside the body of an orphaned baby boy. Now that boy, Uzumaki Naruto, has grown up to become a ninja-in-training, learning the art of ninjutsu with his classmates Sakura and Sasuke. The trio of student ninjas study under the instruction of their teacher, Kakashi. With Kakashi, the group faces a series of dangerous and daunting tests and challenges. Through their adventures, the young ninjas learn the importance of friendship, teamwork, loyalty, hard work, creativity, ingenuity, and right vs. wrong.

The key characters are Naruto, Sasuke and Sakura. Naruto, shunned by the village because he bears the taint of the fox demon imprisoned within him, is a rascally orphan who has grown into an attention-seeking troublemaker. Although his preoccupation with playful pranks leaves him struggling to graduate from Ninja Academy, he's determined to become the next Hokage. Sasuke, the top student in Naruto's class, comes from the prestigious Uchiha clan. Sasuke is driven by a secret desire to win revenge against a mysterious person who wronged him in the past. And the smart and studious Sakura is the brightest of Naruto's classmates, but she is constantly distracted by her crush on Sasuke. She hopes to some day win Sasuke's heart... if Naruto doesn't get in the way.

About ShoPro Entertainment/VIZ LLC
Headquartered in San Francisco, CA, ShoPro Entertainment and VIZ, LLC recently announced their upcoming merger to become one of the most comprehensive and innovative companies in the field of manga publishing, animation and entertainment licensing of Japanese content. The new company, whose name will be announced shortly, will be owned by three of Japan's largest creators and licensors of manga and animation, Shogakukan Inc., Shueisha Inc. and Shogakukan Production Co., Ltd. (ShoPro Japan).

ShoPro Entertainment/ VIZ is a leader in the publishing and distribution of Japanese manga for English speaking audiences in North America and a global licensor of Japanese animation. The new company offers an integrated product line including magazines such as SHONEN JUMP and SHOJO BEAT, graphic novels, videos, DVDs, audio soundtracks and develops and markets animated entertainment starting from initial production, television placement and distribution, to merchandise licensing and promotions for audiences and consumers of all ages.

Contact ShoPro Entertainment/VIZ web sites at www.ShoPro-entertainment.com and www.VIZ.com.