Leading Japanese independent label Avex will soon set up a subsidiary in mainland China, according to a report.
The report, published in the Tokyo-based Nihon Keizai Shimbun economic daily, claims that Avex is planning to get involved in all aspects of the music business in mainland China, including discovering and developing new artists and songwriters, production, distribution, artist management and concert promotion.
Avex president/CEO Max Matsuura is understood to be overseeing the China expansion project.
Tokyo-based Avex head of international Haji Taniguchi has confirms the accuracy of the report.
The report also says that Avex expects to obtain formal permission from the Chinese government as early as this month to establish a subsidiary. Avex already has subsidiaries in Taiwan and Hong Kong.