Faith Inc. have announced they will take the lead position in a joint venture with game publishers Taito and Square Enix. The three companies have founded a new company, Brave Inc., capitalized at 80 mn yen, with 1,600 shares issued and 14 full-time employees. The holding structure shows 60 percent was invested by Faith Inc., 30 percent from Taito and the remaining 10 percent coming from Square Enix.
Brave will focus on a few different areas. First, it will have a content promotion and distribution business for ringtones and downloadable karaoke tracks. Brave will also work with music and movie studios to fund and produce their projects, and develop user communities around those movies and recording artists. The new company will start up operations at the end of this month.