Japan is worried about this. K-Pop is overtaking J-Pop. Korea is subsidizing Korean entertainment aimed at other Asian nations. This is considered an aggressive use of "soft power" in Japan. So Japan now has a Cool Japan Fund.[1] This is a well-funded venture capital operation, funded by the Government of Japan and some big banks, to export Japan coolness. They've funded a free anime site (daisuki.net), an anime translation service, and a Japan channel for other Asian countries. Plus various food-related projects.

They're looking for profitable projects to fund. See their investment criteria.[2]

[1] https://www.cj-fund.co.jp/en/ [2] https://www.cj-fund.co.jp/en/investment/flow.html