K2 Pictures Founder Outlines $100 Million Plan and New Film Strategy

Kii Muneyuki, founder of K2 Pictures, outlined a strategy to build a $100 million film fund and produce 50 movies over the next seven years. He shared these plans during a session at the Taiwan Creative Content Fest in Taipei on Saturday. Muneyuki also recounted specific advice from Hong Kong director Stephen Chow regarding the future of Japanese action films.

Muneyuki said Chow told him that Japanese filmmakers should stop copying kung fu styles. “He said, ‘You have karate, judo, jujitsu and kendo. That is Japanese culture. Only you can turn it into action films, so you should be the ones doing it. Stop aping kung fu,’” Muneyuki recalled. He has shared drinks with Chow in Tokyo on several occasions and agreed with the assessment, citing the Netflix sumo drama “Sanctuary” as a prime example of using local culture.

The company’s K2P Film Fund I closed its initial $33 million equity round in February. Approximately 30 companies have invested, led by MUFG Bank, Japan’s largest lender. Other backers include Bandai, Dentsu, the Development Bank of Japan, Tokyu Land, and Mori Trust. Muneyuki said he is considering reopening the round to new investors if existing backers agree, as more companies have approached the firm since the close.

The equity capital is paired with loans that will total $67 million, bringing the fund’s planned size to $100 million. This structure aims to support 50 films over seven years. K2 Pictures was established as an alternative to Japan’s traditional production committee system, which Muneyuki argued often excludes foreign and outside investment.

Muneyuki shared the stage with director Nagata Koto to discuss “The Nuke Crab,” a noir set in Fukushima that K2 unveiled at Cannes in May. The film is currently in development, with filming targeted for next year. Nagata said the story follows people who profited from radiation cleanup funds in the Tohoku region, a subject she described as socially taboo in Japan. The pair is targeting audiences in Eastern Europe, including Poland and Ukraine, where the Chernobyl disaster resonates deeply.

K2 Pictures completed six films this year, including Kore-eda Hirokazu’s “Look Back” and Son Myung-ah’s “Trophy.” The company aims for six or seven releases annually. Muneyuki said profits are calculated per title, with 70% going to investors and 30% to the creative team. He also stated that the company is pushing for legal changes to allow film assets to be securitized, similar to real estate.

K2 has opened outposts in Taiwan and Korea to distribute its films directly. Muneyuki said 99.9% of Japan’s overseas film business relies on licensing deals, a model he believes undervalues Japanese titles. The company’s “Japan plus one” strategy pairs each project with one specific international market to maximize appeal.