Link-U Group and Crunchyroll Co., Ltd. announced a capital and business alliance under which Link-U will raise approximately ¥917 million from Crunchyroll. As a result, Link-U will become Crunchyroll's fourth-largest shareholder and strengthen initiatives to maximize IP value, including through overseas manga distribution.
Link-U Group has entered into a capital alliance with Crunchyroll Co., Ltd. and a business alliance with Crunchyroll, LLC in the US, advancing initiatives to expand its overseas manga services business and maximize IP value. The alliance is intended to further strengthen Crunchyroll's overseas expansion through its Japanese subsidiary.
Crunchyroll Manga launched in the US and Canada in October 2025, and the number of titles available in those markets is expected to substantially exceed the level at launch, with further expansion anticipated through the participation of major Japanese publishers. Crunchyroll had more than 21 million paying members as of May 2026.
Link-U will allot approximately 1.07 million shares to Crunchyroll Co., Ltd. at ¥856 per share, for a total of approximately ¥917 million. Following the capital increase, Crunchyroll Co., Ltd. will rank as Link-U's fourth-largest shareholder, with a 7.03% stake.
The two companies signed a joint development agreement in September 2025 and launched Crunchyroll Manga in the US and Canada in October of the same year. They will pursue three main priorities: strengthening overseas expansion, developing the distribution infrastructure, and identifying content and expanding it overseas by using an IP data platform. In connection with the earnings announcement for the fiscal year ending July 2026, the article also addresses changes in the earnings outlook, including goodwill impairment.