It seems like 2013 is not a good year for game companies. We have yet another giant publisher going out of business and this time, it is all the way over from Japan. Persona/Shin Megami Tensei developer ATLUS‘ parent company, Index Corporation has recently filed for bankruptcy due to a debt of 24.5 billion yen (approximately 250 million USD).
It was said that Index Corporation never had the intention of selling their assets and were instead looking for a sponsor. Their move of selling their assets can be taken that things have not been going smoothly for them. In light of their parent company bankruptcy, ATLUS also reassured fans that the bankruptcy has not interrupted their operations.
“Currently, Index Digital Media, Inc. and the ATLUS brand are unaffected by the Index Corporation proceedings in Japan. We’re carrying on day-to-day activities, business as usual. Shin Megami Tensei IV and Dragon’s Crown are still releasing on July 16 and August 6 respectively, and we’re licensing and publishing third-party titles such as R.I.P.D: The Game and Daylight. We want to thank all of our fans for their outpouring of support.”
However, Index Corporation problems go far beyond bankruptcy. They have been accused of fraud, specifically inflating sales figures to create an illusion of corporate stability. Their offices were subsequently raided and investigators reported uncovering falsified financial documents during the raid.
According to a new report on the Japanese Bloomberg site, Index Corporation will be selling their assets next week and settlements could reach as much as 15 billion yen (approximately 150 million USD). We currently have no news as to who might be looking to pick up ATLUS, who are known to be working on the next game in the Persona franchise.
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