Quote:The board of directors for Index Corporation, the company that owns and manages the Atlus brand of games, decided on Thursday to begin civil rehabilitation procedures, and it filed an application with the Tokyo District Court that same day. Civil rehabilitation is a relatively new form of bankruptcy procedures in Japan, having been passed into law in 1999. Index lists about 24.5 billion yen (about US$250 million) in debts.

The company plans to continue its operations under the supervision of the court and rebuild. It reported that recent sales in other countries did not increase, just as they expected. However, it anticipates that it will grow in social games and other areas of business with accelerating expansion. As a result, it is looking into selecting a sponsor or sponsors as quickly as possible to transfer its business operations and maintain their value.

Chairperson Masami Ochiai and President Yoshimi Ochiai intend to resign their positions.

Japan's Securities and Exchange Surveillance Commission (SESC) has been investigating Index for allegedly improper accounting via fictitious transactions. Specifically, Index is under suspicion of exaggerating revenues using round-trip transactions. SESC searched Index's headquarters in Tokyo, as well as its chairperson's home, earlier this month.

Quote:June 27, the index resolution to make a petition for civil rehabilitation proceedings in the Board of Directors held on the same day. I announced that it has been accepted make a petition to the Tokyo District Court. Total liabilities are about 24.5 billion yen in the 31 May.

　The company, the business revolves around the content and business solutions and digital game business. While earned income in a stable manner, they were business acquisitions that target the domestic and foreign companies, revenue expected does not rise in overseas acquisitions in particular, investment heavy losses occurred. In addition, due to the Incubator Bank of Japan, which was to build a small business promotion network is bankrupt, the financial health of the participating companies of the network affected by the collapse worse, the investment you have made to the participating companies of the network Many became irrecoverable. In the second quarter ended August 31, 2013, due to the reversal of deferred tax assets and provisions for bad debt processing of large caused by the investment, it was insolvent both consolidated and non-consolidated.

　In the future, under the supervision of the director and the commissioners court, you have to continue to operate, and promote reconstruction. In addition, Ochiai Yoshimi Mr. President and Mr. Masami Ochiai is a Chairman of the Board, expressed his intention to resign at the stage where a certain goal stood for civil rehabilitation proceedings. I have even if the transfer of business has been conducted, there is no intention to be involved in the management of the acquisition of the business destination.

(06-27-2013, 09:04 PM)Koh Wrote: I love Atlus RPGs that I've played (Shining Soul, Shining Soul II, for example). So it is quite the sad news to hear their having financial issues. Maybe it's a sign they should've made a Shining Soul III to complement the other two, thus making a trilogy.

(06-27-2013, 10:02 PM)Koopaul Wrote: I just want Zeno Clash 3! They left a cliffhanger and I got to find out what happens to Zenozoik!