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I understand the situation Toho doesn't want Columbia or Criterion to release the definitive Japanese version on DVD (they don't like competition).
Janus did the restoration/ and Rialto is in charge of the theatrical distribution of Gojira. Usually this means a strong likelihood of a Criterion release on DVD.
Criterion could be working on the DVD, with Toho providing the subtitles for a 2005 release.
Columbia may be blocking Criterion in order to release the film themselves or simply to protect their Godzilla franchise in the United States, and Toho is VERY protective in licensing their films. They made Criterion re-call Seven Samurai just to add region 1 encoding and to remove a restoration demo!
Outside the three studios involved, I don’t think anyone is privy to what is going on, or what the priorities of the studios are. Nor would Criterion or Columbia announce the title months in advance even if they were working on the DVD.
I can’t envision Columbia bothering with all the negotiations, fees, bribes, lawsuits, and corporate assassinations that would be required to secure the rights AND access to the original film negatives from Toho. It simply is too much money and hassle just to release the original cut of the film in Japanese and English subs.
Criterion did manage to release The Leopard, a film many never expected to see on home video, let alone a 3-disc set!
So if any studio is going to release Gojira it would be Criterion.
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