Demand for books has risen during the coronavirus pandemic.
While we have established the Speedy Books label in the Amazon economic sphere last year, physical books are still highly preferred over Kindle in Japan, so bookstores still control a majority of the market share. This may seem regressive, but we decided to go ahead with this acquisition in hopes of raising a digital revolution for the physical books market.
Japanese bookstores sell books on consignment, meaning they do not buy the books and reserve the right to return the books as they wish. Thus, they inevitably become bad at picking good books. In the US, they buy them, so they need a good eye for books. The trade-off is higher sales fees compared to Japan. As in any market, risk-takers decide the success or failure of businesses.
Additionally, the logistics are complex, making it difficult to grasp the in-store sales performance of publishers in real-time. Sometimes, even books that have been ordered by the bookstores themselves are never unpacked.
There is a need to use blockchain technology to create a super logistics system (Yodobashi Camera’s Commerce is a good example) that enables efficient book distribution to quickly deliver books to the customers who need them.
Books are the primary sources of information that do not come up on Google searches. We want to deliver the unique expressions of authors, regardless of their fame and number of social media followers, to the world!
Speedy Group acquired 100% of “Koryosha Books”, a long-established publisher.
We would like to announce that Speedy Inc. (HQ: Minato, Tokyo; CEO & President: Atsushi Fukuda) and Comidia Inc. (HQ: Chuo, Tokyo; CEO & President: Atsushi Nunokawa) has acquired 100% of the outstanding stocks of Koryosha Books, a book publisher, and has turned it into a subsidiary as of March 22, 2021.
Koryosha Books is a 73-year old publisher established in 1948.
They have published many bestsellers, especially educational material, technical books, and the like. In recent years, they have been focusing on publishing picture books like the “First-Person Fairy Tales” series exemplified by “Momotaro from Momotaro’s perspective” (Illustrated by: Yuta Okamura), which won the Gold Medal at the Good Design Award of 2018, proving that they are a progressive publisher that does not shy away from new fields.
↓Read the rest of the story here. It contains the new President, Atsushi Nunokawa’s comments on his vision for the future.