Japanese gaming giant GREE has announced the creation of a joint venture with Yahoo Japan’s GyaO video portal that will invest in the production of new anime-related content and social games.

The endeavor, called Future Content Partners, comes as part of a larger partnership between GREE and Yahoo Japan. Last November, the companies announced a strategic alliance on content, gaming and mobile initiatives. Earlier this month, the pair announced GxYz, a joint venture for mobile social gaming.

Including both content and character-related income, Japan’s anime market is believed to bring in over 1 trillion yen ($10.6 billion) in annual revenues.

GyaO says it will cooperate with the new venture, GREE and parent company Yahoo Japan on opening a “dedicated anime information portal site” for games, video content and digital books.

The venture will receive $1.06 million (100 million yen) in funding with an equal 50-50 ownership share between GREE and GyaO. The companies plan to formally establish the fund at the end of May.

Image credit: TOSHIFUMI KITAMURA / AFP / Getty Images