The company was founded in April 2015 by Yoshiaki Nishimura, former lead film producer of Studio Ghibli.

Its first feature film, Mary and the Witch's Flower, was released on July 8, 2017, throughout Japan with the film's main character Mary Smith serving as the company's mascot in their logo, similar to Studio Ghibli's mascot, Totoro.

[2][3][4] The name of the studio comes from the Serbo-Croatian word pónoć, for "midnight", meant to signify "the beginning of a new day".

[7][8][9] On January 25, 2024, Netflix announced that they had acquired worldwide streaming rights to The Imaginary, which would be added to the platform later in the year.

The deal also included global streaming rights to the studio's future feature projects.