CoolProps, a renowned Japanese manufacturer of tokusatsu character statues and film prop replicas, announced that the company ceased operations on May 21, 2025, filed for bankruptcy on May 26 of the same month, and was officially declared bankrupt by the Tokyo District Court on June 4 of the same year, with total liabilities reaching 140 million Japanese Yen. Several statue products, whose releases had been delayed for many years, are confirmed to have no stock for shipment. Even if the manufacturing factories commissioned by CoolProps have inventory, delivery cannot be completed due to the inability to make payments.
CoolProps, which opened in 2012, was known for producing high-priced, high-quality statues of Japanese tokusatsu characters and monster movies. The company excelled at faithfully recreating the costume designs of heroes and monsters from the shows using 3D scanning and modeling techniques. It also produced props and photographic statues for Japanese films such as "Kingdom," "Shin Kamen Rider," and the TV drama "VIVANT." In 2020, its peak annual sales reached 150 million Japanese Yen.
However, starting the following year, the company faced a series of challenges including the closure of Chinese factories due to the COVID-19 pandemic, rising global raw material prices caused by the Russia-Ukraine war, and the depreciation of the Japanese Yen due to the Japanese government's "monetary easing policy." Bust products that had been open for pre-order were repeatedly delayed and could not be shipped even this year. The company's sales plummeted, its business operations fell into crisis, ultimately leading to bankruptcy.
These unshippable bust products include the highly anticipated items previously reported by toy enthusiasts: "GODZILLA: ORIGINAL SUIT COLLECTION SUIT SIZE BUST PROP REPLICA“HEISEI” GODZILLA" and "ULTRAMAN C-TYPE SUIT SIZE BUST PROP REPLICA." Their excellent sculpts, faithfully recreating the on-screen suits using 3D scanning technology, were highly anticipated, but despite 1-2 years of delays past their original release dates, they could not be shipped. According to the bankruptcy proceedings notification sent by the Tokyo District Court, both products are confirmed to have no stock available for shipment. Even if the manufacturing factories commissioned by CoolProps have inventory, delivery cannot be completed due to the inability to make payments.
According to an interview with Japanese media outlet "Netorabo," Toho and Tsuburaya Productions, who are also affected, have sent apology letters for product delays to consumers who ordered items from their official stores. They are also continuing to ascertain the detailed situation following CoolProps' bankruptcy announcement and are currently unable to provide a specific response. Koji Oe, CoolProps' bankruptcy trustee, stated that future proceedings will be handled in accordance with Japanese bankruptcy law, liquidating CoolProps' remaining assets and compensating creditors proportionally. A creditors' meeting is expected to be held in the future.
Meanwhile, consumers in Japan who will not receive their products or refunds due to CoolProps' bankruptcy are, on one hand, disappointed about not getting items they have waited years for, and on the other hand, concerned that the unit price of these products exceeds 300,000 Japanese Yen, and CoolProps' remaining assets may not be sufficient to fully refund their deposits. Some consumers had even formed a victims' association when CoolProps' products were repeatedly delayed, and now, with the bankruptcy announcement, they are left in despair.
