Division spun-off as firm 'focuses on A&R.'
Tokyo-based label Toshiba-EMI said today (Dec. 13) that it is selling its CD-pressing plant in Gotemba, Shizuoka Prefecture, in line with EMI's global policy of divesting itself of its manufacturing operations.
A consortium comprising optical-disc maker Memory-Tech Corp., Kinyosha Printing Co., Goldman Sachs Group and magnetic tape/optical disc maker Aitec Co., operating under the name Toemi Media Solutions, will take over Toshiba-EMI's manufacturing division, with effect from Dec. 26. No price was quoted for the sale.
The label says it decided to sell the division, which was established in 1971, in order to concentrate its efforts on A&R activities.
"More investment is required to discover and develop artists, and to produce and promote songs, and Toshiba EMI realizes that restructuring and intensifying competition in the CD-manufacturing field make it difficult to reduce production costs," Toshiba-EMI said in a statement.