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Japanese publisher Kadokawa Corporation has announced that it is entering a joint venture with Hachette Book Group to publish manga and light novels in English. Under the new venture, Yen Press will be split off from being a completely-owned Hachette Book Group Company, and will be jointly owned by Hachette and Kadokawa, with Kadokawa having a 51% stake in Yen Press. The new joint venture will launch in May 2016, and will be renamed Yen Press, LLC. The announcement added that the new joint venture aims to establish light novels as a new content genre by using Hachette’s existing production and distribution infrastructure, with Kadokawa providing leadership.

Yen Press vice president and publishing director Kurt Hassler will continue to lead Yen Press, LLC under the title Managing Director and Publisher.

Source: ANN