Leading Japanese independent label Avex and South Korean label/management company S.M. Entertainment are looking to move into other Asian markets.
Tokyo-based Avex has bought a 5.81% stake in Seoul-based S.M. Entertainment for 176 million yen ($1.7 million).
Tokyo-based Avex has bought a 5.81% stake in Seoul-based S.M. Entertainment for 176 million yen ($1.7 million).