P. M. BRIEFING : Japanese to Invest in U.S. Films
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From Times Wire Services
TOKYO — Nomura Babcock and Brown, an investment trust owned 80% by Japan’s biggest brokerage, Nomura Securities and its group companies, is raising a $25-million fund to invest in American films.
Nomura Babcock and Morgan Creek Productions, a Los Angeles-based film maker, have already set up joint film production in the United States to produce four movies, a Nomura Babcock spokesman said today.
Morgan Creek Film Partners is owned 25% by Nomura Babcock and 75% by Morgan.
Investors in the film trust fund can expect a pretax yield of around 12.5%, the spokesman said.
Morgan Creek Productions was established in 1987. Its films include “Young Guns,” “Skin Deep” and “Major League.”
