Tohoshinki's break to cause financial losses to AVEX
Tohoshinki's recent announcement that they will be ceasing their musical activities as a group in Japan is expected to take a hefty financial toll on their local management agency, according to Japanese entertainment site Zakzak (www.zakzak.co.jp).
Zakzak quoted noted Japanese music critic Tomisawa Issei, who said "Tohoshinki's break from their musical activities will result in sales losses for Japanese management agency AVEX worth from as little as 3 billion yen (31.9 million dollars) to as much as 5 billion yen (53.2 million dollars)."
The Japanese talent agency, known for discovering new talents and venturing into the movie business, is said to have been taking various measures to overcome their recent business difficulties which included downsizing their board of directors from thirteen to seven earlier this month.
AVEX announced on their official website last Saturday that the boy band, currently involved in a legal dispute with their Korean talent agency SM Entertainment, will be halting their activities as a group but the members will continue to pursue their individual activities.
Matsuura Katsuhito, president of the agency's mother company AVEX Group Holdings Inc., had revealed his shock at the news on social networking service Twitter, saying "You have no idea how big a hit AVEX has taken. It is hard for me to talk about this because I have to consider the standpoint of Korean agency SM Entertainment, but I will try to make [Tohoshinki] remain for [the group's] Japanese fan club 'bigeast'".
Source: asianfanatics.net/forum/topic/