Takeshi Morioka, the marketer credited with reviving Universal Studios Japan and dubbed a "god of marketing," now faces mounting setbacks at Katan, the consultancy he founded in 2017, after a theme park he backed closed within two years and another ran up a 17.3 billion yen loss.
Morioka, 54, led a dramatic turnaround at Universal Studios Japan (USJ) in Osaka. He left in 2017 to start Katan, a marketing support company, and his reputation drew staff and investors alike.
Within the company he spoke openly of going public. "Let's list and all become billionaires," he told staff soon after founding Katan, according to a person close to employees.
Employees received stock options known internally as "Katan points," and were sometimes shown the specific gains they could expect at listing, the person said.
A strong start, then a string of losses
The first project is still counted a success. In 2018 Katan handled marketing for Nesta Resort Kobe, a leisure complex that had run at a loss since opening.
The path after that was less smooth. Immersive Fort Tokyo (IFT), the Odaiba theme park Morioka launched, will close at the end of February 2026, about two years after opening.
The project has booked cumulative losses of 62 billion yen. Most of the core members who ran the business left Katan after losing confidence in Morioka's management, a person involved in the project said.
Morioka acknowledged the failure on a TV program in December 2025. "A major reckoning is needed, and I take this seriously," he said.
Junglia Okinawa's deepening hole
Junglia Okinawa is now the most pressing problem. The park opened with much fanfare on a total project cost of 700 billion yen, but visitor numbers have stayed at about half the original plan.
Its operating company's parent posted a final loss of 17.3 billion yen for the fiscal year ending June 2026. On September 25, Morioka bowed before shareholders. "I apologize for the trouble and inconvenience we have caused," he said.
The losses extend to Yokohama. Katan was involved in the city's plan for a very large theme park, but negotiations with Shueisha, the rights holder to a popular manga series, ended without agreement.
Cooperation on the project is now in doubt, with people saying a repair of relations with Katan would be difficult.
Shukan Bunshun reported on Katan's run of setbacks, Junglia's plight and Morioka himself, including internal emails behind what it described as a scenario to hide Junglia's insolvency.