Imax to expand in Japan with more screens

Imax Corp., the developer of technology for projecting movies on giant screens, plans to more than double the number of theaters in Japan in two years as viewers flock to 3-D features, Chief Executive Officer Richard Gelfond said.

The company, which shares the costs and profits of its theaters in Japan with Tokyu Recreation Corp., will increase the number of screens in the country to nine by June 2012 from four now, Gelfond said in an interview in Tokyo yesterday. Three new theaters will be in the Tokyo metropolitan area and two will be in western Japan, he said.

Imax, which introduced its giant-screen technology at the 1970 World Expo in Osaka, western Japan, aims to tap demand for Hollywood blockbusters in 3-D that helped it record its first annual profit in four years. James Cameron’s “Avatar” grossed $8 million for the company in Japan, selling out on many nights, Gelfond said.

Leave a Reply

Your email address will not be published.