StudioMonowa combines CJ ENM’s production expertise, TBS’s original IP and U-NEXT Holdings’ distribution network to target Japan’s $49B content market
CJ ENM announced today that it held a signing ceremony on April 30 at the CJ ENM Center in Sangam-dong, Seoul, to establish ‘StudioMonowa,’ a joint venture with Japan’s TBS and U-NEXT Holdings. The event was attended by key executives from all three companies — including Yoon Sang-hyun, CEO of CJ ENM, Abe Ryujiro, President & CEO of TBS, and Tsutsumi Tenshin, CEO of U-NEXT Co., Ltd.
Strategic Significance of Studio Monowa
The name ‘Monowa’ combines ‘mono,’ the Japanese word for story, and ‘wa,’ meaning harmony. It signifies a space (Studio) where content (Mono) from both Korea and Japan is connected as one (Wa) to create new value. Furthermore, the name incorporates the prefix ‘Mono,’ meaning ‘one,’ reflecting CJ’s “ONLYONE” philosophy of pursuing being the first, the best and the most differentiated.
Building an IP Value Chain Based on the Core Competencies of CJ ENM, TBS and U-NEXT
StudioMonowa aims to become a “Global Premium IP Studio” that encompasses the entire lifecycle of content—from planning and development to production, distribution and IP expansion. To establish a sustainable revenue model based on IP LTV (Life-Time Value), which includes original IP sourcing, investment, scripted production, global distribution and secondary derivative works, the three companies will leverage their respective core competencies as follows:
| Company | Role and Scope of Collaboration |
| CJ ENM | Content planning and differentiation based on global production capabilities (Applying K-drama production systems) |
| TBS | Sourcing original IP within Japan, driving IP-based ancillary businesses and broadcasting original titles |
| U-NEXT Holdings | Platform role, including the acquisition and streaming of original titles |
Seizing the Moment for K-Culture: The Fruit of Chairman Lee Jay-hyun’s Global On-site Management
This joint venture is evaluated as a tangible business outcome of CJ Group Chairman Lee Jae-hyun’s “on-site global management” philosophy. In April 2025, Chairman Lee visited Japan to meet with key executives of the TBS Group, including Chairman & Director Sasaki Takashi and CEO Abe Ryujiro. During these meetings, he reaffirmed the partnership between the two companies and discussed specific collaboration strategies, laying the essential groundwork for this project.
Targeting the $46 Billion Japanese Content Market and Accelerating Glocalization
According to a 2023 report by the global strategic consulting firm Roland Berger, the Japanese content IP market is valued at approximately 67 trillion KRW (with original IP accounting for roughly 25.6 trillion KRW), while the streaming sector is expanding at an average annual growth rate of 20.5%. As a production hub that meets global standards, StudioMonowa plans to actively respond to the surging demand for high-quality content within Japan.
Through Studio Dragon, CJ ENM has already demonstrated its capabilities by producing the Japanese remake of the Amazon Original series “Marry My Husband,” which ranked first in the TV drama category of Google Japan’s “Year in Search 2025.” Furthermore, the company successfully co-planned and co-produced the drama “Love is for the Dogs” in partnership with TBS. The establishment of this new entity is significant as it consolidates this proven “Glocalization DNA” into a single, unified strategic pillar.
Joint Executive Statements
Yoon Sang-hyun, CEO of CJ ENM, stated, “Through our collaboration with the leading content companies representing Korea and Japan, we will introduce hit content that targets not only Asia but the global market. By establishing an innovative partnership that integrates K-content’s systematic planning capabilities with global production expertise from the initial IP development stage, we are committed to evolving into a leading global premium IP studio.”
Abe Ryujiro, CEO of TBS, remarked, “We are thrilled to launch StudioMonowa alongside CJ ENM, a world-class hitmaker, and U-NEXT Holdings, which is aggressively driving original content production and global expansion. The ‘trinity’ of CJ ENM’s world-renowned production DNA, TBS’s creative expertise and U-NEXT Holdings’ powerful platform reach will allow us to showcase groundbreaking content that captivates global audiences and keeps them on the edge of their seats.” Tsutsumi Tenshin, CEO of U-NEXT, noted, “We are delighted to establish StudioMonowa alongside CJ ENM, a leader in the Korean entertainment industry, and TBS, a long-standing pillar of the Japanese drama industry. By consolidating CJ ENM’s global planning expertise, TBS’s top-tier drama production capabilities and the operational know-how U-NEXT has accumulated as a platform, we are committed to creating new hits that will travel from Japan to the world.”
