IG Port — the parent company of animation studios Production I.G, Wit Studio, XEBEC, Signal.MD, and publisher Mag Garden — announced on Friday that it will restructure on August 27. The company will get a new CEO and COO, and the number of board members will decrease.
The current company president Mitsuhisa Ishikawa will take on the role of CEO and remain as president. Current board member and Mag Gardan chairman Yoshihiro Hosaka will become COO. NTT Plala's Kōji Bandō will become a board member. Bandō also serves as the representative director of Japan Contents Factory fund. IG Port and NTT Plala announced a capital tie-up to produce new content in 2018, acquiring 4.98% of IG Port's shares in the process.
Wit Studio president George Wada, Signal.MD president Katsuji Morishita, and Production I.G board member Mikio Gunji will retire as IG Port executive staff. Their duties in that capacity will be absorbed into each company.
IG Port reported in April that it had total consolidated sales of 6.696 billion yen (about US$59.82 million, a 4.4% increase from last year) for the nine months ending February 28, with an operating loss of 517 million yen (about US$4.61 million), an ordinary loss of 518 million yen (about US$4.62 million), and a net loss of 507 million (about US$4.52 million). The company adjusted its earnings forecast for the fiscal year downward accordingly.