TOKYO, Nov. 7, 2010 (GLOBE NEWSWIRE) -- IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) today announced the appointment of Kiyoto Takaya to the newly created position of General Manager, Japan, effective November 1. The position was created to capitalize on the growing success of IMAX's recently opened network of multiplex-based IMAX® theatres in Japan. Based in Tokyo, Mr. Takaya will report to Don Savant, the company's Managing Director, Asia Pacific.
Mr. Takaya is a 27-year veteran of the film and cinema industry. Prior to joining IMAX, Mr. Takaya served for three years as Sales Director for Paramount Pictures Japan. He began his career with Toho Company, Ltd. In his 24 years with Toho, he held a variety of management positions, most recently General Manager, International Business Department. Mr. Takaya is a graduate of Keio University in Tokyo, with a Bachelor of Arts in Economics.
"Japan is one of the largest exhibition markets in the world, and a growing market for IMAX," said IMAX's Chief Executive Officer Richard L. Gelfond. "Following the recent success of our newly formed joint venture partnerships with leading Japanese exhibitors, we believe there is more opportunity for the growth of our business in Japan, and creating this new position is a key step in capitalizing on that opportunity. Mr. Takaya's previous experience demonstrates a great ability to identify new business opportunities and execute growth strategies, making him an ideal fit for the role."
"Mr. Takaya's extensive management experience and knowledge of the Japanese exhibition market will be a great asset for our team," said Larry T. O'Reilly, IMAX's Executive Vice President, Theatre Development. "We believe this appointment will add to the momentum of our expanding theatre network and reinforce IMAX's long-term commitment to the Japan market."
About IMAX Corporation
IMAX Corporation is one of the world's leading entertainment technology companies, specializing in immersive motion picture technologies. The worldwide IMAX network is among the most important and successful theatrical distribution platforms for major event films around the globe, with IMAX® theatres delivering the world's best cinematic presentations using proprietary IMAX, IMAX® 3D, and IMAX DMR® technology. IMAX DMR is the Company's groundbreaking digital re-mastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience®. The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of September 30, 2010, there were 470 IMAX theatres (348 commercial, 122 institutional) operating in 45 countries.
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience® and The IMAX Experience® are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook ( www.facebook.com/imax ), Twitter ( www.twitter.com/imax ) and YouTube ( www.youtube.com/imaxmovies ).
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This press release contains forward looking statements that are based on management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Important factors that could affect these statements include, but are not limited to, general economic, market or business conditions, including the length and severity of the current economic downturn, the opportunities that may be presented to and pursued by the Company, the performance of IMAX DMR films, conditions in the in-home and out-of home entertainment industries, the signing of theatre system agreements, changes and developments in the commercial exhibition industry, the failure to convert theatre system backlog into revenue, new business initiatives, investments and operations in foreign jurisdictions, foreign currency fluctuations and the Company's prior restatements and the related litigation and investigation by the SEC and the ongoing inquiry by the OSC. These factors and other risks and uncertainties are discussed in the Company's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.
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