TheDoctor
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<blockquote class='quote\\_blockquote'><dl><dt>Quote:</dt><dd> </dd></dl><div>Index Holdings, the parent company of Japanese game developer Atlus (Shin Megami Tensei series), is in financial trouble.
According to a CNET Japan report, the company will be undergoing "civil rehabilitation proceedings" via the Tokyo District Court.
After the proceedings, the company will then undergo a corporate restructuring.
The total liability of the company is about 24.5 billion yen ($249 million) as of May 31.
Civil rehabilitation is the Japanese equivalent of bankruptcy proceedings and is usually the step taken before a more serious corporate failure.
Previously, the company was under investigation for questionable business practices such as fabricating business transactions to maximize the corporate balance sheet.
Atlus' previous works include Catherine, the Shin Megami Tensei: Persona titles, and the Etrian Odyssey series.
Atlus' Xbox 360 games include Persona 4 Arena, Spectral Force 3: Innocent Rage, Operation Darkness, Zoids Assault, Divinity II: The Dragon Knight Saga,
Catherine, The Cursed Crusade. The King of Fighters XIII, Game of Thrones and The Testament of Sherlock Holmes. [/quote]
According to a CNET Japan report, the company will be undergoing "civil rehabilitation proceedings" via the Tokyo District Court.
After the proceedings, the company will then undergo a corporate restructuring.
The total liability of the company is about 24.5 billion yen ($249 million) as of May 31.
Civil rehabilitation is the Japanese equivalent of bankruptcy proceedings and is usually the step taken before a more serious corporate failure.
Previously, the company was under investigation for questionable business practices such as fabricating business transactions to maximize the corporate balance sheet.
Atlus' previous works include Catherine, the Shin Megami Tensei: Persona titles, and the Etrian Odyssey series.
Atlus' Xbox 360 games include Persona 4 Arena, Spectral Force 3: Innocent Rage, Operation Darkness, Zoids Assault, Divinity II: The Dragon Knight Saga,
Catherine, The Cursed Crusade. The King of Fighters XIII, Game of Thrones and The Testament of Sherlock Holmes. [/quote]
