Toy company Wiz announced that they will sell their shares in anime studio Production Reed. The shares will be sold to Toshihiko Sato, current president of Production Reed. Currently, Wiz holds 22,267 shares in the company, a 50.1% stake. Sato will buy the shares at 3,600 yen ($37.89US) each, or a combined cost of 80,161,200 yen ($843,696.63US). Once the buyout is complete, Production Reed will be over 95% employee-owned.

Wiz's representatives stated that the sale was made because the company could not foresee future synergy in owning Production Reed. The company hopes the sale will allow Wiz to return to its core strengths of developing and producing toys.

Production Reed was formed in 1975 under the name Ashi Production. the company produced a number of anime titles, including Magical Princess Minky Momo and Vampire Princess Miyu TV. Production Reed became a subsidiary of Bandai in 2001, but the relationship was short-lived. Production Reed separated from Bandai in 2005, and was absorbed by Wiz in August 2006. Ashi was renamed to Production Reed in 2007.