The company has a strategic investment in the film distribution business through its 92.46% stake in M Pictures Entertainment Plc. (MPIC). In the past, the company invested in fi lm distribution business in direct. On the theatrical side, the company held a stake in M Pictures Co., Ltd. (MP) which provided the upstream theatrical distribution services. On the downstream home entertainment distribution side, the company held a stake in Pacific Marketing and Entertainment Group Co., Ltd. whose name has subsequently been changed to MVD Co., Ltd. (MVD). Completed in July 2009, both MP & MVD have now been included into MPIC to create an integrated distribution company under one roof.