Written by Kianna Best on May 21, 2024. Posted in Incentive News

Second round of Japan incentive kicks off

The second round of applications for Japan’s newest incentive programme opened yesterday. Targeted at international film and television projects, the incentive covers 50% of production costs in the country up to a spend of JPY 1 billion (approx. USD 6.6 million). This round will close on 7 June 2024, with the intended third and final round reopening on 26 August 2024.

Image courtesy of Manuel Consentino by Unsplash

After closing their first round on 15 March, the second round of applications for the new and improved Japanese filming incentive opened on 20 May during the 77^th edition of festival de Cannes in the Marché du Film. The largescale international film and television that intend to take advantage of the reimbursement must have projects with a minimum spend of either JPY 500 million (USD 3.3 million) made directly in Japan or, for those with total production costs of over JPY 1 billion, a direct Japanese spend over JPY 200 million (USD 1.3 million).

Image courtesy of Jezael Melgoza by Unsplash

Whilst the intended third and final round is expected to reopen on 26 August, the programme will come to an end when the grant budget is expended, which may occur before the rounds are completed. The final point of criteria to be eligible for he reimbursement is that projects must either be scheduled to be released, screened, broadcast or distributed in more than ten countries or territories with minimum direct production costs totaling to JPY 200 million (USD 1.3 million).

The projects must also have intentions to benefit the domestic Japanese content industry, including human resources development through local employment or utilisation of Japan  domestic studios such as startup studio K2 Pictures amongst many others. The programme is owned by Japan’s Ministry of Economy, Trade Industry and operated by the Visual Industry Promotion Organization (VIPO) and coordinated by the Japan Film Commission (JFC).