Japanese Label Avex Initiates Significant Downsizing: Exclusive

TOKYO — Avex Group Holdings, often considered the fourth major record label in the Japanese music industry, is facing a severe economic crunch that will likely scale down its business for the foreseeable future, Billboard has learned.
The entertainment conglomerate has put its 18-story building in Tokyo’s trendy Minami Aoyama district up for sale three years after it completed a major rebuild of the structure, effectively doubling the number of floors. Three sources inside Avex say t