CJ ENM, TBS, and U-NEXT Holdings Establish Joint Venture ‘StudioMonowa’

SEOUL, South Korea (May 1, 2026) — CJ ENM (CEO Yoon Sang-hyun) marked the launch of ‘StudioMonowa’ with a signing ceremony on April 30 at the CJ ENM Center in Seoul, establishing a strategic joint venture with Japan’s TBS and U-NEXT Holdings.

The signing ceremony was attended by key executives from the three companies, including Yoon Sang-hyun, CEO of CJ ENM; Abe Ryujiro, President & CEO of TBS; and Tsutsumi Tenshin, CEO of U-NEXT Co., Ltd. The name ‘Monowa’ combines ‘mono,’ the Japanese word for story, and ‘wa,’ meaning harmony. It signifies a space (Studio) where content (Mono) from both Korea and Japan is connected as one (Wa) to create new value. Furthermore, the name incorporates the prefix ‘Mono,’ meaning ‘one,’ reflecting CJ’s ‘ONLYONE’ philosophy of pursuing being the first, the best, and the most differentiated.

StudioMonowa is a joint venture that integrates top-tier planning, production, and platform capabilities from Korea and Japan to establish a content value chain encompassing everything from planning and development to production, distribution, and IP expansion. Specifically, a sustainable business model will be secured through an LTV (Life-Time Value) based structure, spanning from original IP discovery and investment to drama production, global distribution, secondary works, and spin-off businesses. The strategy is to evolve into a ‘Global Premium IP Studio’ by combining Korea’s competitive K-drama production system with Japan’s IP competitiveness.

To ensure the successful launch of StudioMonowa, the three partners will consolidate their core competencies. CJ ENM will lead content planning and differentiation based on its global production expertise, while TBS focuses on original IP discovery within Japan and driving IP-related businesses and channel releases. U-NEXT will serve as the primary platform, handling the supply and distribution of original titles.

This partnership is driven by the rapid growth of the Japanese content market. The Japanese content IP market, which includes IP development, video production, streaming, and spin-off businesses, is valued at approximately KRW 67 trillion (as of 2023), with original IP accounting for about KRW 25.6 trillion. The streaming sector is also experiencing rapid growth of 20.5% annually. (Source: Workshop document, Roland Berger) StudioMonowa aims to meet the rising demand for high-quality premium content in Japan by serving as a hub with planning, development, and production capabilities that meet global standards.

This joint venture traces its roots back to last April, when CJ Group Chairman Lee Jay-hyun visited Japan to explore potential collaborations through direct exchanges with leaders of major local content and media companies. During the visit, Chairman Lee met with key TBS Group executives, including Chairman & Director Sasaki Takashi and CEO Abe Ryujiro, to reaffirm the partnership and discuss specific collaboration plans. The subsequent discussions evolved step-by-step into the establishment of this JV, serving as a prime example of how field-oriented global management can lead to tangible business results.

CJ ENM has consistently demonstrated its glocalization success through various Korea-Japan projects. Last year, the company produced the Japanese remake of the Amazon Original series <Marry My Husband>, which sparked a major sensation in Japan and ranked first in the drama category for Google Japan’s “Year in Search 2025.” Additionally, CJ ENM has built a close partnership with TBS through the joint planning and production of the Korea-Japan collaboration drama <Love is for the Dogs> by Studio Dragon.

Yoon Sang-hyun, CEO of CJ ENM, stated, “Through our collaboration with the leading content companies representing Korea and Japan, we will introduce hit content that targets not only Asia but the global market. By establishing an innovative partnership that integrates K-content’s systematic planning capabilities with global production expertise from the initial IP development stage, we are committed to evolving into a leading global premium IP studio.”

Abe Ryujiro, CEO of TBS, remarked, “We are thrilled to launch StudioMonowa alongside CJ ENM, a world-class hitmaker, and U-NEXT Holdings, which is aggressively driving original content production and global expansion. The ‘trinity’ of CJ ENM’s world-renowned production DNA, TBS’s creative expertise, and U-NEXT Holdings’ powerful platform reach will allow us to showcase groundbreaking content that captivates global audiences and keeps them on the edge of their seats.”

Tsutsumi Tenshin, CEO of U-NEXT, noted, “We are delighted to establish StudioMonowa alongside CJ ENM, a leader in the Korean entertainment industry, and TBS, a long-standing pillar of the Japanese drama industry. By consolidating CJ ENM’s global planning expertise, TBS’s top-tier drama production capabilities, and the operational know-how U-NEXT has accumulated as a platform, we are committed to creating new hits that will travel from Japan to the world.”

TBS, a leading Japanese television network and content creator, has prioritized "joint content development with global partners" as a core pillar of its growth in the "TBS Group Medium-term Business Plan 2026." The company has been strengthening its global production business, highlighted by its production house The Seven, the powerhouse behind major hits like <VIVANT>, <MIU404>, and <Alice in Borderland>, and its recent strategic investment in Legendary Entertainment.

U-NEXT, the number one local OTT service in Japan, is a powerful streaming player that has achieved nine consecutive years of revenue growth. As of 2025, it has surpassed 5 million paid subscribers and boasts a vast library of over 440,000 titles. Leveraging the rich user data and content investment expertise accumulated through its platform operations, U-NEXT continues to solidify its position as a market leader.