The North American studio will continue to operate as a subsidiary of the Japanese media giant under founder/CEO Eric Beckman and president Dave Jesteadt.

The two firms have already worked together to release films in the U.S., with GKids handling last year’s Oscar-winning Studio Ghibli feature "The Boy and the Heron." Financial terms were not disclosed.

Japanese media giant Toho is acquiring Gkids, the North American distributor of animated films like the Oscar-winning The Boy and the Heron as well as live-action hits like Godzilla Minus One. Gkids will continue to operate as a wholly owned subsidiary of the Los Angeles-based Toho International.