Japan Is Scrapping the Cool Japan Fund After 13 Years and $351 Million in Losses Supporting Anime, Manga and Japanese Pop Culture Overseas

Japan is moving to end the Cool Japan Fund, the public-private investment initiative launched in 2013 to expand Japanese culture and businesses overseas. The decision comes after the fund recorded cumulative losses of approximately ¥54 billion by the end of fiscal 2025, far exceeding its revised target. The move does not mean Japan is abandoning its efforts to promote anime, manga and other creative industries internationally. Instead, the government is shifting toward direct support programs that focus on helping Japanese…