Just don’t call this Coyote “ugly” yet.

Earlier today, Japanese news outlets reported that Toei, Toei Animation Music Publishing, and DLE Inc. joined forces to establish a joint venture, called Coyote. The organization, which was officially on Monday, is tasked with planning and producing original anime titles for the Japanese and greater Asian markets.

According to Mantan Web, Coyote will plan anime TV shows, films, and streaming titles. The organization will also be tasked with developing projects through the use of existing intellectual property (IP). This means that, in addition to new products, Coyote will produce video projects based on existing manga and novels in addition to rebranding older prominent franchises.

In addition to domestic partners, Coyote will work with China and other Asian nations to produce joint projects. The company aims to compete in the growing international anime market, and will ultimately utilize DLE’s resources to produce pilots and trailers in an attempt to remain nimble in the global market.

The current investment breakdown is as follows:

  • Toei: 34%
  • Toei Animation Music Publishing: 33%
  • DLE: 33%

Coyote established their headquarters in Chiyoda, Tokyo’s Kōjimachi neighborhood. Kozo Morishita, president of Toei Animation Music Publishing, is taking the role of President in the organization, while Toei’s Fumio Yoshimura serves as CEO. Toei Animation’s Kōsaku Shimatani will act as CFO, while DLE’s Takurō Harada works as COO.

Source: Mantan Web