Publisher Atlus has an uncertain future today as its parent company in Japan, Index, wrestles with what seems like an insurmountable amount of debt. According to a CNet Japan report, Index has filed for civil rehabilitation proceedings as it faces bankruptcy. The company owes an estimated ¥24.5 billion – roughly $224 million – in debt and its current president Ochiai Yoshimi has hinted that he will resign soon.
Index Corporation said in an announcement today that its previous attempt to acquire businesses targeted at both domestic and international interests did not work as planned, while overseas acquisition was unsuccessful in creating the necessary increase in revenue to justify the purchase.
Atlus is best known for bringing Japanese games to America. The company brought the very first title in the popular Disgaea series to North America, as well as Steambot Chronicles, and several Persona games. It was also the company that brought From Software's Demon's Souls to America.
We will have more on this story as it develops.
Source: CNet Japan