Toho Invests $225M in Fifth Season, Expanding Global Presence

Japanese studio Toho has acquired a 25% stake in Fifth Season, the U.S.-based independent studio known for producing Apple TV+'s Severance and Max's Tokyo Vice, for $225 million. South Korean entertainment giant CJ ENM will retain majority ownership, while Toho becomes a strategic shareholder. The deal aims to create new opportunities for collaboration between CJ ENM, Fifth Season, and Toho, and expand Fifth Season's global presence.