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BURBANK – 03/08/08 – The Walt Disney Co. says it will team up with several Japanese companies to produce animated features targeting Asian markets.

According to a recent story in Japan's leading daily, the Nikkei, the company’s Tokyo-based Japanese unit will work with Toei Animation, Madhouse, and Jinni Animation – three of Japan’s largest animation houses – on separate projects as part of the deal.

The three independent partnerships will enable the entertainment giant “to tap local talent and computer graphics technology to produce programs widely acceptable to different countries and cultures,” the paper said.

At the same time, it reported, Disney's distribution network “would enable its Japanese partners to expand their overseas audience as they face growing competition from other Asian countries where labor is cheaper.”

Disney currently maintains its own television channels in more than 100 countries, including Japan, which have helped turn its animated characters such as Mickey Mouse and Donald Duck into global icons.

The paper also reported that Disney and Japan's Madhouse studio will launch a Japanese version of the popular US television series "Lilo and Stitch" later this year.

In another bid to adapt to regional tastes, the report says Disney and Jinni are planning to co-produce “Fireball,” a short animation film about life in a futuristic robot society.

Bloomberg financial press has also reported that Toei Animation shares rose to their highest levels in three weeks, trading on the announcement of the company's new TV production alliance with Disney.

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