Blab Business
Bushiroad Sells NJPW to TV Asahi and CyberAgent After WWE-Netflix Deal Sparks Shift
Takaaki Kidani, the founder of Bushiroad and former chairman of New Japan Pro‑Wrestling (NJPW), said the announcement of a multi‑year streaming partnership between WWE and Netflix on January 23 2024 forced him to confront the limits of Bushiroad’s ability to grow the promotion internationally. The deal, which was reported to be worth 740 billion yen over ten years, was described by Kidani as a shock that made him realize NJPW would need a partner with large media and streaming resources.
In May 2026, Bushiroad announced that it would transfer all of its shares in NJPW to TV Asahi and CyberAgent. The transaction, completed on June 30 2026, gives each company a 46.3 percent stake in the promotion. NJPW will operate as a consolidated subsidiary of TV Asahi, which has been the promotion’s long‑time television partner.
The sale was reported by Weekly Playboy and confirmed by a press release from Bushiroad’s board of directors. According to the release, the deal is expected to generate an extraordinary gain for Bushiroad. The company’s statement emphasized that the transfer allows NJPW to benefit from TV Asahi’s traditional broadcast network and CyberAgent’s digital media expertise.
CyberAgent, which owns the streaming platform Abema and several wrestling promotions through its subsidiary CyberFight, is positioned to help NJPW expand its online presence. CyberFight also owns the promotions NOAH, DDT, and Tokyo Joshi Pro. The partnership is seen as a strategic move to combine NJPW’s established live‑event model with CyberAgent’s experience in digital distribution.
Kidani’s comments about the WWE‑Netflix deal also highlighted the broader context of competition in the wrestling industry. He noted that the launch of All Elite Wrestling (AEW) in 2019, a promotion that quickly became the second‑largest in the United States after WWE, added pressure on NJPW’s global expansion plans. “Around 2019, I began to wonder if Bushiroad was no longer capable of handling global expansion,” Kidani said. “Just as I felt we had done everything we could, AEW was launched in the US.” He added that the emergence of a powerful rival could shift demand away from NJPW.
Bushiroad’s history with NJPW dates back to 2012, when the company acquired the promotion for 500 million yen. Under Bushiroad’s ownership, NJPW revived its international profile and introduced the trading‑card game King of Pro Wrestling. Bushiroad’s core business, however, has always been non‑wrestling entertainment, including collectible card games and mobile apps. In 2019, the company expanded into the joshi puroresu market by acquiring World Wonder Ring Stardom, a promotion it continues to own.
Kidani, who grew up as a fan of professional wrestling, said the WWE‑Netflix deal forced him to see that “New Japan has no choice but to partner with a giant capital firm that possesses powerful media and streaming infrastructure.” He also noted that the sale would allow NJPW to operate more effectively in a media environment dominated by large streaming platforms.
The ownership change is expected to influence NJPW’s future strategy. With TV Asahi’s broadcast reach and CyberAgent’s digital capabilities, the promotion may pursue new distribution channels and international partnerships. The sale also reflects a broader trend of media consolidation in Japan, where traditional broadcasters and digital platforms are merging to compete with global streaming services.
Bushiroad’s decision to divest NJPW aligns with its focus on its core entertainment products. The company’s stock listing on the Tokyo Stock Exchange since 2019 and its portfolio of franchises—such as BanG Dream! and Shōjo Kageki Revue Starlight—illustrate its emphasis on multimedia ventures outside of professional wrestling.
As of now, NJPW remains the largest and longest‑running wrestling promotion in Japan, with its flagship event, Wrestle Kingdom, held annually at the Tokyo Dome. The promotion’s new ownership structure will be closely watched by industry observers, as it may signal a shift in how Japanese wrestling promotions adapt to the evolving media landscape.
The sale to TV Asahi and CyberAgent is complete, and NJPW will continue to operate under its existing brand and leadership, with Hiroshi Tanahashi as president and Naoki Sugabayashi as chairman. The next major milestone for the promotion will be its performance in upcoming events and any further expansion initiatives that leverage its new owners’ resources.
In May 2026, Bushiroad announced that it would transfer all of its shares in NJPW to TV Asahi and CyberAgent. The transaction, completed on June 30 2026, gives each company a 46.3 percent stake in the promotion. NJPW will operate as a consolidated subsidiary of TV Asahi, which has been the promotion’s long‑time television partner.
The sale was reported by Weekly Playboy and confirmed by a press release from Bushiroad’s board of directors. According to the release, the deal is expected to generate an extraordinary gain for Bushiroad. The company’s statement emphasized that the transfer allows NJPW to benefit from TV Asahi’s traditional broadcast network and CyberAgent’s digital media expertise.
CyberAgent, which owns the streaming platform Abema and several wrestling promotions through its subsidiary CyberFight, is positioned to help NJPW expand its online presence. CyberFight also owns the promotions NOAH, DDT, and Tokyo Joshi Pro. The partnership is seen as a strategic move to combine NJPW’s established live‑event model with CyberAgent’s experience in digital distribution.
Kidani’s comments about the WWE‑Netflix deal also highlighted the broader context of competition in the wrestling industry. He noted that the launch of All Elite Wrestling (AEW) in 2019, a promotion that quickly became the second‑largest in the United States after WWE, added pressure on NJPW’s global expansion plans. “Around 2019, I began to wonder if Bushiroad was no longer capable of handling global expansion,” Kidani said. “Just as I felt we had done everything we could, AEW was launched in the US.” He added that the emergence of a powerful rival could shift demand away from NJPW.
Bushiroad’s history with NJPW dates back to 2012, when the company acquired the promotion for 500 million yen. Under Bushiroad’s ownership, NJPW revived its international profile and introduced the trading‑card game King of Pro Wrestling. Bushiroad’s core business, however, has always been non‑wrestling entertainment, including collectible card games and mobile apps. In 2019, the company expanded into the joshi puroresu market by acquiring World Wonder Ring Stardom, a promotion it continues to own.
Kidani, who grew up as a fan of professional wrestling, said the WWE‑Netflix deal forced him to see that “New Japan has no choice but to partner with a giant capital firm that possesses powerful media and streaming infrastructure.” He also noted that the sale would allow NJPW to operate more effectively in a media environment dominated by large streaming platforms.
The ownership change is expected to influence NJPW’s future strategy. With TV Asahi’s broadcast reach and CyberAgent’s digital capabilities, the promotion may pursue new distribution channels and international partnerships. The sale also reflects a broader trend of media consolidation in Japan, where traditional broadcasters and digital platforms are merging to compete with global streaming services.
Bushiroad’s decision to divest NJPW aligns with its focus on its core entertainment products. The company’s stock listing on the Tokyo Stock Exchange since 2019 and its portfolio of franchises—such as BanG Dream! and Shōjo Kageki Revue Starlight—illustrate its emphasis on multimedia ventures outside of professional wrestling.
As of now, NJPW remains the largest and longest‑running wrestling promotion in Japan, with its flagship event, Wrestle Kingdom, held annually at the Tokyo Dome. The promotion’s new ownership structure will be closely watched by industry observers, as it may signal a shift in how Japanese wrestling promotions adapt to the evolving media landscape.
The sale to TV Asahi and CyberAgent is complete, and NJPW will continue to operate under its existing brand and leadership, with Hiroshi Tanahashi as president and Naoki Sugabayashi as chairman. The next major milestone for the promotion will be its performance in upcoming events and any further expansion initiatives that leverage its new owners’ resources.
