IMAX Strikes Alliance With Japanese Firm

IMAX Corporation (USA) IMAX said it aligned with AEON Entertainment Co. Ltd for an IMAX theatre to be stationed at the Japanese firm's multiplex. The Japanese partner has AEON mall in Odaka in Nagoya of Japan, according to the company. AEON was one of the top exhibitors in Japan and the deal marked the first agreement.

IMAX CEO Richard Gelfond said, "We are excited to join forces with AEON Entertainment – a subsidiary of the AEON group - an influential player in Japan's entertainment and retail sector. We believe that today's agreement, which puts us in business with five of Japan's top six exhibitors, will help accelerate our network expansion in the third-largest box office market in the world."

Similarly, AEON Entertainment's President Kazuo Maki said, "IMAX not only delivers the world's best cinematic experience, it is also a globally-recognized premium brand that will serve as an anchor attraction at the AEON Cinema Odaka. As we expand our exhibition business, we look forward to future collaborations with IMAX."

Shares of the IMAX finished Wednesday's trading with 0.94 percent gain.