NEW YORK and TOKYO, Dec. 5, 2013 /PRNewswire/ -- IMAX Corporation (NYSE:IMAX; TSX: IMX) today announced an agreement with Sasaki Kogyo Co. Ltd., which operates under the brand Cinema Sunshine, for an IMAX® theatre to be located in Ikebukuro, one of the largest downtowns within Tokyo and the city's premier commercial and entertainment area. The theatre will be installed in a new complex, which upon completion will represent the largest scale multiplex in Tokyo. The deal brings Sasaki Kogyo's IMAX commitment to four theatres, of which three are currently open in the cities of Yamatokoriyama, Matsuyama-shi and Tsuchiura-shi.
Under the terms of the agreement, the theatre will feature IMAX's next-generation laser digital projection system, which represents the culmination of the largest R&D initiative in IMAX's history. The system incorporates the laser digital intellectual property IMAX exclusively licensed from Eastman Kodak and Barco's unique laser innovations. It is expected to set a new benchmark as the industry's premium entertainment experience and will enable IMAX's largest screens to deliver the highest-quality digital content available with greater brightness and clarity, a wider color gamut and deeper blacks.
"Since opening our first IMAX theatre in 2011, we've seen our complex's overall box office share and attendance steadily increase and today, we are building on this success with the addition of a new theatre in Ikebukuro, Tokyo, within our new flagship complex," said Mr. Shinichi Sasaki, CEO of Sasaki Kogyo Co. Ltd. "We are also proud to be the first to bring IMAX's cutting-edge laser technology to Japan, which we are confident, will set a new standard for immersive cinematic experiences."
"For seventy years, Sasaki Kogyo has been a leader in the development of quality, innovative cinemas in Japan and it is fitting that they are the first in the country to commit to our next-generation laser technology," said Don Savant, IMAX Managing Director, Asia Pacific. "We are delighted to expand our partnership and develop an IMAX theatre in such a premium site in downtown Tokyo."
About Cinema Sunshine
Cinema Sunshine possesses 97 cinema screens at 13 sites around Japan, with a total of 16,359 seats (as of May 2013). The opening of the pioneering Cinema Sunshine Ikebukuro cinema complex, marked the beginning of Cinema Sunshine's expansion throughout Japan. Working from the concept of "Community-based Cinema," we create entertainment spaces that are intended to boost the development of the surrounding area, and to improve cinematic culture. With wheelchair space and stadium-style seating that allows people to watch movies without worrying about trying to see around the head of the person in front, our cinemas allow comfortable viewing to everyone.
As Cinema Sunshine we continue to introduce cinema complexes in Japan that feature world-leading technologies such as IMAX. We provide our customers with an enjoyable movie-going experience only possible at Cinema Sunshine, and will maintain our global focus on technology in order to create viewing environments with excellent added value that inspires our customer to want to watch movies at Cinema Sunshine.
About IMAX Corporation
IMAX, an innovator in entertainment technology, combines proprietary software, architecture and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX theatres to connect with audiences in extraordinary ways, and, as such, IMAX's network is among the most important and successful theatrical distribution platforms for major event films around the globe.
IMAX is headquartered in New York, Toronto and Los Angeles, with offices inLondon, Tokyo, Shanghai and Beijing. As of September 30, 2013, there were 785 IMAX theatres (653 commercial multiplexes, 19 commercial destinations and 113 institutions) in 55 countries.
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience®, The IMAX Experience®, IMAX Is Believing® and IMAX nXos® are trademarks of IMAX Corporation. More information about the Company can be found atwww.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).
This press release contains forward looking statements that are based on IMAX management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. These risks and uncertainties are discussed in IMAX's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.