In May of 1961, Shintoho declared bankruptcy and two new companies were formed to take its place. Mitsugu Okura, Shintoho's former president, created the studio after purchasing Shintoho's production facilities in Tokyo. At this time Koichi Goto, a former Shintoho employee, purchased the rights to the Shintoho name and 3 years later established Shintoho Entertainment. In 1972, this new company relocated from Osaka to Tokyo and absorbed another piece of the original Shintoho, as well as receiving a new name: "Shintoho Eiga". Shintoho Eiga also later went on to distribute a number of Shintoho's films and former director for Shintoho, Kiyoshi Komori, began directing pink films for Shintoho Eiga in 1964 until his retirement in the 1970s.Dialectical materialism