Cool Japan Fund, Inc.

Along the way, it's raised around US$48 million, depending on the currency exchange rate, from investors including Kazana National, Altara Ventures and Gobi Partners.

most recently securing a US$26 million round, which was its Series C round, led by Cool Japan Fund.

The company said earlier this year that it had reached now profitability, but one profitable year does not make a pattern, nor does it prove a business model is sustainable in the longer run.

So how has PolicyStreet truly proven its business model? And looking ahead, how will it deploy its newly raised $26 million to build the next chapter of the business? Well, joining me today is Lee Yen Ming, co-founder and group CEO of PolicyStreet.

Today on The Grill, Li Yanming, co-founder and group CEO of PolicyStreet.

Yanming, we've talked about the base so far and how PolicyStreet achieved its profitability and some of the key factors at play there.

Of course, the big news this year has been that you secured a Series C funding round of US$26 million, led by Cool Japan Fund, and that was extended just a few weeks back.

Yes.

It was just to make it look cool.

And thus was born Cool Japan Fund, a private, a, a public/private fund with the aim of contributing to sustainable growth of Japan's economy through the expansion of overseas demand and supply of attractive products and servatives, services unique to Japanese lifestyle and culture.

Uh, entertainment such as anime, manga, pop music, et cetera.

Food, fashion, technology, tourist attractions, you know.

Well, Japan's Industry Ministry has decided not to seek budget allocations next fiscal year for a loss-making investment fund set up to promote Japanese culture abroad.

The public-private Cool Japan Fund was launched 13 years ago to invest in sectors including anime and food.

But poor investment decisions have resulted in cumulative losses reaching 54 billion yen, or about $340 million as of the end of March.

The fund had already suspended selecting new investment targets after failing to balance its books.

A decision is expected around the end of the year.

The panel will also study why the losses ballooned.

The government's investment in the Cool Japan Fund has exceeded $880 million.

Well, social media companies are introducing measures in Japan to help parents monitor their children's online activities.

In the same year, the acquittal and a retrial of former death row inmate Iwao Hakamada renewed discussion about the risks of wrongful convictions.

Cool Japan Fund nearing the end after suffering massive losses.

Thirteen years after being launched amid much fanfare to promote Japanese culture overseas, the Cool Japan Fund Incorporated effort is quietly winding down, leaving a legacy of massive losses.

Japan's industry ministry has begun arrangements to dissolve the public-private investment fund, multiple government officials said.

The ministry will not request funding under the fiscal investment and loan program for the organization in the next fiscal year.

The Prime Minister's Office has been informed of the ministry's plan and is expected to accept it.

If the fund is abolished, part of the government capital invested in it may not be recovered.

The Cool Japan Fund, CJ Fund, was established in twenty thirteen by then Prime Minister Shinzō Abe as his signature initiative to support overseas sales and promote Japanese content.