Toho CEO Says U.S. Success of ‘Godzilla Minus One’ Changed Its Global Approach

The North American success of “Godzilla Minus One” marked a shift in how Japanese studio Toho approached overseas markets, CEO Matsuoka Hiro said Thursday at the Tokyo International Film Festival. The film earned $57.1 million in North America after the company decided to bring the franchise to the market itself.

Speaking alongside Academy of Motion Picture Arts and Sciences CEO Bill Kramer at an “Academy in Tokyo” session, Matsuoka traced the decision to conversations with exhibitors during a U.S. visit. They told him Hollywood studios were producing too few films to satisfy audience demand and encouraged Toho to consider releasing anime. Those exchanges brought the U.S. popularity of Japanese animation into sharper focus for him.

With “Godzilla” already part of Toho’s business, the studio chose to pursue a release of its own. Matsuoka said the proposal raised concerns among colleagues because Toho’s previous attempts to distribute films outside Japan had faced difficulties. The outcome proved successful, however, with the revenue flowing back to the company. “It wasn’t a strategy; we just tried,” he said.

Matsuoka said the experience illustrated why trying new approaches matters as Toho develops its international operations. Its follow-up film, Yamazaki Takashi’s “Godzilla Minus Zero,” is scheduled to reach Japanese cinemas on Nov. 3, followed by a North American opening on Nov. 6. Gkids, the U.S. distributor acquired by Toho in 2024, will handle the North American release.

The discussion also explored the respective roles of cinemas and streaming services. Matsuoka described them as “more like coexisting than enemies,” pointing to repertory programming as one way Japanese theaters have attracted audiences back since the pandemic. Retrospectives featuring Miyazaki Hayao’s films were among his examples.

Kramer cited “Parasite” when discussing the increasingly international character of film culture. He recalled director Bong Joon Ho’s comments about audiences growing more receptive to subtitles and movies in other languages. Cinemas can help younger viewers discover film history, Kramer said, while streaming can extend a movie’s life after its theatrical release.

On Asia’s place in the global film business, Kramer described the region as “an extremely important market” and a central reason for the Academy’s presence in Tokyo. He said members based outside the United States account for 25% of its voting membership. Festival partnerships, he added, help connect existing members and engage prospective ones, supporting an Academy mission that includes education and encouraging participation in the industry alongside the Oscars.

Both executives also discussed artificial intelligence. Matsuoka saw potential for AI to improve workflow but said companies needed to monitor its effects closely. Kramer said the Academy remained committed to recognizing human authorship and creation as the film industry changes.