Japan’s DIC Museum Announces Relocation and Downsizing Plans
By Annette Meier
Exterior view of the Kawamura Memorial DIC Museum of Art in Sakura City, Chiba Prefecture. Courtesy Wikimedia Commons.
Four months after announcing the temporary closure of the Kawamura Memorial DIC Museum of Art, outside of Tokyo, to evaluate its future viability, the cash-strapped Japanese chemical giant DIC Corporation has decided to downsize and relocate the institution.
Established in 1990 in Sakura City, Chiba Prefecture, northeast Tokyo, the DIC Museum currently houses 754 artworks by prominent 20th-century artists including abstract painter Mark Rothko, and early European modern artists such as Pablo Picasso, the Surrealist painter Max Ernst, and French Impressionist Claude Monet. More than half of the collection, as well as the museum’s land and building, are owned by DIC.
Amid severe financial woes, DIC’s board of directors had announced in a public notice in late August that it would temporarily close the institution in January 2025, stating that it will assess the corporate-run museum’s operational efficiency in the meantime and reconvene in December for a final review. Following deliberations with the company’s Corporate Value Improvement Committee, which was formed earlier this year, DIC had considered maintaining the museum in its current form, downsizing and relocating to Tokyo, or ending operations entirely.
However, news of the DIC Museum closing down triggered an unexpected public outcry and a major spike in visitor numbers, challenging the board’s direction. In a press release published on December 26, DIC reneged on its plans to shutter the institution, opting instead to downsize and relocate as several petitions from local residents and the Japanese Council of Art Museums (JCAM) have underscored the social significance of continuing operations.
The press release outlined the downsizing plan, which entails selling 25 percent of the museum’s collection before moving to a facility in Tokyo where the works will be more publicly accessible. As of June 30, the asset value of all DIC-owned artworks amounts to JPY 11.2 billion (USD 77.4 million) based on book value (indicating the assets’ original worth, discounting liabilities).
DIC predicts that the deaccessioning process will produce at least JPY 10 billion (USD 63.4 million) depending on market conditions.
To ensure more cost-effective operations moving forward, the relocation and new DIC Museum will be run in partnership with a public organization, rather than independently. The company is currently in negotiations with an undisclosed venue and plans to reach an agreement by March 2025.
In response to the protests from Sakura City residents, DIC is considering ways for the local community to access the museum’s gardens and facilities after it closes on April 1, 2025.
Annette Meier is an editorial assistant at ArtAsiaPacific.
