Hi Blog. Thanks to Trans-Pacific Radio for letting me know: Fukumimi blog reports (citing Japan Probe) that Eichi Shuppan, publisher of the infamous GAIJIN HANZAI Magazine, has gone bankrupt. (And I don’t mean just morally bankrupt…)
Now, before anyone says we dood it, read the report from Fukumimi below. Not sure GAIJIN HANZAI magazine was entirely responsible (but the bath they took on it certainly didn’t help).
Then this begs the question: What was a publisher in such fragile condition trying to pull by taking on this high-risk (if they even saw it as that) controversial magazine? If it was merely trying to stir up debate, as the editor asserted throughout, then it should have had a bit more of a buffer cash flow in its safe. Naw. In the end, they were just trying to sell magazines through provocation, for they never expected it to be a flop (they obviously couldn’t afford one). No wonder they were on tenterhooks the whole time during this debate.
Okay, people are probably expecting me to crow a bit. Well… let’s just state the obvious: Darwin Awards for the publishing industry. Eichi Shuppan was just stupid. Glass houses and stones? Publishing houses and racist overtones? Reap and sow. Debito
Good Bye to Eichi Publishing April 5, 2007
Posted by fukumimi in Japan, Economy & Business. trackback
Good bye and good riddance to the publisher (link appears down) of racially inflammatory content.
Eichi Shuppan has closed its doors and is being liquidated. It had oustanding debts of JPY2.3B (about $20 million give or take).
I’m sure people like Debito and JapanProbe will be celebrating, although the failure of the business is unrelated to the recent fuss over racist publications, and is rather due to the fact that its parent company has closed its doors and Eichi was one of the subsidiaries which was already in trouble and could not stand on its own two feet. The publishing of smut had been transferred to a different company a long time ago (Eichi seems to have retained the sales rights in that reorganization, which was due to the company being busted on pornography charges), and that was the cash cow business anyway, although this line is no doubt also feeling the heat from internet sites (many of which apparently feature many scanned images from old magazines, including those of Eichi, so I’m told….)
Addendum: The news is courtesy of Teikoku DataBank via a Nikkei Telecon subscription (no link available to the actual data regarding Eichi, but see here for an article).