GDC Technology (“GDC”), a world leading digital cinema solution provider, is pleased to announce today that it has signed a Virtual Print Fee (VPF) agreement with the Distribution Division of Shochiku Co., Ltd, a Japanese entertainment icon and one of the top film producers in the country.
Under this non-exclusive VPF agreement, Shochiku will pay VPFs for any exhibitors signed up with GDC and its partners. The VPF payment will be stretched out for a maximum of 10 years or until all costs are recouped. The agreement only applies to equipment installations before 31st March, 2014, and is limited to Japan only.
Synonymous with movie production in Japan, Shochiku is both a pillar of the Japanese film industry through its studio ownership and production activities, and a major distributor of Japanese and imported motion pictures. “We are pleased to enter partnership with GDC in providing a cost-effective and viable digital rollout solution for exhibitors in Japan under the VPF arrangement,” said Koji Matsukura, GM of Shochiku Distribution Division.“Leveraging on our in-depth understanding of the Japanese market and GDC’s vast experience in structuring VPF deals with Hollywood studios and exhibitors, we are confident that our VPF program is one that best suits the needs of exhibitors here.”
“The VPF agreement with Shochiku is of special significance to us as it is among our first VPF deals with Japanese distributors,” said Dr. Man-Nang Chong, founder and CEO of GDC Technology. “Exhibitors in Japan can expect to take advantage of the cost recoupment model offered by our VPF scheme to recover a substantial portion of their capital outlays in digital conversion. It will only be a matter of time before such benefits are fully recognized by Japanese exhibitors and we are optimistic many more will take up our VPF offer in the coming months.”