Atlus parent company files for 'rehabilitation'

Atlus parent company Index Corporation has filed for "Civil Rehabilitation," the Japanese equivalent of bankruptcy.

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Index Corporation, the parent company of Atlus, announced today that it is filing for "Civil Rehabilitation" with a Tokyo District Court. The company's finances have suffered in recent years, and it plans to continue to operate while it implements the Japanese equivalent of bankruptcy proceedings.

Gamasutra reports that the its debt now totals $24.5 billion yen (approximately $249.7 million). The decision was agreed upon during a meeting with the board of directors. It attributes the loss to revenues not rising as expected, particularly in overseas markets. The next step for the company is to have a court-appointed supervisor oversee the rehabilitation plan

Atlus was dissolved into Index Holdings in 2010, but as of that year it was profitable due to the success of Demon's Souls. It remains to be seen how the restructuring plan will impact the games publisher best known in the west for the Shin Megami Tensei and Persona series.

Update: Kotaku received this comment from Atlus USA:

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.

Editor-In-Chief

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  • reply
    June 27, 2013 10:30 AM

    Steve Watts posted a new article, Atlus parent company files for 'rehabilitation'.

    Atlus parent company Index Corporation has filed for "Civil Rehabilitation," the Japanese equivalent of bankruptcy.

    • reply
      June 27, 2013 10:53 AM

      Didn't they publish Etrian Odyssey IV over here? That one seemed to do well didn't it?

      • reply
        June 27, 2013 11:07 AM

        The failings of Index have little to do with the performance of Atlus. Index Holdings is going through audits, lawsuits and corruption charges right now along with general upper level mismanagement of the company.

        Hopefully Altus and it's IPs can come out of this as cleanly as possible and doesn't interrupt their activities too much.

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          June 27, 2013 12:17 PM

          I know, because they've been doing some good stuff lately! I hope they stay safe!

    • reply
      June 27, 2013 11:16 AM

      ok well now I know why SMT IV was on 3DS instead of consoles. :(

      • reply
        June 27, 2013 11:45 AM

        It wouldn't have been as good on consoles.

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        June 27, 2013 3:48 PM

        I don't think it was due to this; Atlus has been taking a while to release an internally developed game for PS3 anyway. Catherine was built off of Gamebryo, and Persona 4 Arena was technically built off of Arc System Works' engine that is used in Guilty Gear and BlazBlue.

    • reply
      June 27, 2013 3:45 PM

      Via Atlus Japan's Twitter account: https://twitter.com/Atlus_jp/status/350206691708645376

      Loosely translated: "Dragon's Crown is still releasing in Japan on July 25; we apologize to our users who are worrying."

      Dragon's Crown is scheduled to release in the US on August 6. Nothing from the Atlus USA Twitter account yet.