Direct-to-home satellite platform Sky PerfecTV aims to clear its 3 billion yen ($26 million) in debts by the end of the month using proceeds from last October's IPO on the venture-oriented Mothers section of the Tokyo Stock Exchange.
Sky PerfecTV has already repaid $171 million in debts from the $1 billion raised, the Nihon Keizai Shimbun reported, citing company sources.
It also intends to improve its infrastructure and acquire high-profile content as it faces heated competition in the Japanese marketplace.
Contact Variety Staff at
news@variety.com