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'Godzilla' studio Toho to co-produce content with foreign filmmakers

Collaboration with Hollywood and Chinese studios seen as more lucrative than just leasing movie rights

Godzilla makes an appearance in Tokyo's Shinjuku district.

TOKYO -- Japanese film studio Toho will jointly produce content with overseas peers to get a greater bite of earnings from foreign releases of popular domestic titles.

Toho plans to invest some 15 billion yen ($135 million) over three years starting in 2019 to produce works with Hollywood and Chinese studios of Japanese franchises where it has the rights. Co-productions of Hollywood versions of 2016 animated hit "Your Name" as well as "Pokemon" and "Godzilla" movies are in the works, with more to come.

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