Atlus hits bankruptcy

Started by shadowDOESrock, June 27, 2013, 08:09:10 AM

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shadowDOESrock

Quote from: JoystiqIndex Digital Media Inc., parent company of Shin Megami Tensei and Persona publisher Atlus, is petitioning for "civil rehabilitation proceedings," a form of bankruptcy protection under Japanese law.

As part of its petition, as of May, the company has ¥24.5 billion ($249 million) in total liabilities.

Jurists.co.jp has a pretty solid explanation of the procedure from this point forward. The company will have a supervisor appointed and a plan will be drawn up for rehabilitation of the company. After that, there is a creditors meeting and approval. Then the company is supposed to follow the plan.

We've reached out to Atlus for a statement about if this will have any impact on the company's daily business or release schedule.

Hakudamashi

OR ELSE!
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shadowDOESrock


Hakudamashi

Because it's f*cking Atlus.

But I read it wrong. Index, the parent company is the one going bankrupt. So if some other big publisher*cough*sonyornintendodon'tletthispassyoufuckers*cough* were to buy Atlus, then all will be well.
OR ELSE!
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jkid101094

YES
NINTENDO, DO IT
BUY ATLAS
GIVE ME PERSONA 4 GOLDEN ON WII U AND I WILL JHFYUFFCFYTF


Quote from: DracoDraco:  Saber was my bitch LONG before you heard about her.  I introduced you to FSN, loser.  D<
Oh, and still...
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And ILU2. o3o
IaFNSW.

Hakudamashi

Quote from: jkid101094 on June 27, 2013, 08:50:04 AM
YES
NINTENDO, DO IT
BUY ATLAS
GIVE ME PERSONA 4 GOLDEN ON WII U AND I WILL JHFYUFFCFYTF
Or, y'know, Persona 5...
OR ELSE!
Compliments to our Goddess for this piece of superspecialawesome!
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m'kay

Elija2

I don't think Nintendo will buy Atlus, but they are working on that Fire Emblem X Shin Megami Tensei game so who knows what's gonna happen there. Hopefully it's a third party publisher so they're not confined to working on one platform.

Hakudamashi

Quote from: Elija2 on June 27, 2013, 09:27:50 AM
I don't think Nintendo will buy Atlus, but they are working on that Fire Emblem X Shin Megami Tensei game so who knows what's gonna happen there. Hopefully it's a third party publisher so they're not confined to working on one platform.
SEGA?
OR ELSE!
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jkid101094

SEGA is in no position to buy anything.


Quote from: DracoDraco:  Saber was my bitch LONG before you heard about her.  I introduced you to FSN, loser.  D<
Oh, and still...
ILU JKIDDD

Says you. She likes me more. D<
And ILU2. o3o
IaFNSW.

TheGameNinja

Yeah, it's the parent company, not Atlus itself. Atlus has said that their games are still all coming out when they've said they will.

Hakudamashi

Quote from: jkid101094 on June 27, 2013, 09:42:39 AM
SEGA is in no position to buy anything.
As long as it's not EA
OR ELSE!
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shadowDOESrock

Quote from: jkid101094 on June 27, 2013, 09:42:39 AM
SEGA is in no position to buy anything.

They would be able to buy Atlus.


Elija2

Quote from: jkid101094 on June 27, 2013, 09:42:39 AM
SEGA is in no position to buy anything.

They recently bought Relic Entertainment for $26.6 million after THQ went under.

KPOPSTAR

So will the Persona 3 Movie be cancelled?

shadowDOESrock

So, a sale of the subsidaries is considered - which includes Atlus.

QuoteBloomberg Japan is reporting that 20 or so companies, including Sega, are interesting in bidding on the various subsidiaries of Atlus' parent company, Index Corporation, is rumored to be selling off.

According to sources close to the situation, candidates will be picked as early as next week, and the business will be transferred by the end of August.

The report on Bloomberg stated the bid has gone as high as ¥20 billion yen ($201 million), which is ¥5 billion more than what Index estimated.

Back in June, Index Corp was investigated for financial mismanagement, and filed for Chapter 11 bankruptcy in June.

SmashFinale

You'd think Atlus would be able to support themselves without a parent company...

shadowDOESrock



Well, case is closed.

Sega Sammy Holdings Inc. now fully owns Index Corp and all its Subsidaries, that obviously includes Atlus.
Index Corp is currenly owned by the newly founded Sega Subsidiary "Sega Dream" (whose name will change soon, according to Sega)
Sega aims to increase the popularity and revenue of Atlus IP's by bringing content of those IP's to Smartphones and pachislot/pachinko machines.

TheGameNinja

Seems like a good fit for Atlus, as long as Sega doesn't push them to rush games out.

SmashFinale

Isn't Capcom in some trouble right now?

shadowDOESrock


SmashFinale



Elija2

I'm not entirely sure if this is a good thing. We all know that SEGA is in safe mode right now, only releasing games that they are sure will make a profit. Plus they've been pretty bad about localizing titles recently (Yakuza 5 and Phantasy Star Online 2 have yet to be localized, and the former may never be). Maybe this purchase will mark a change for them, but I'm not too hopeful.

TheGameNinja

Quote from: Elija2 on September 18, 2013, 10:39:26 AM
I'm not entirely sure if this is a good thing. We all know that SEGA is in safe mode right now, only releasing games that they are sure will make a profit. Plus they've been pretty bad about localizing titles recently (Yakuza 5 and Phantasy Star Online 2 have yet to be localized, and the former may never be). Maybe this purchase will mark a change for them, but I'm not too hopeful.

Atlus has it's own people working on localization stateside, don't they? I don't see how Sega owning them could hurt them unless they fire those guys.

Hakudamashi

SEGA has Atlus?
What exactly changes? All the Atlus staff is still intact I'd imagine...
OR ELSE!
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shadowDOESrock

Maybe company politics on what gets developed?
I mean, literally in the documents Sega states that Atlus IP's revenue will be exploited via Smartphone and Pachinko titles.

Though, I like to toy around with the idea that maybe we'll get Atlus USA to localize SEGA Games...
Probably wont happen though.

Hakudamashi

Hey, SEGA's on good terms with Nintendo right now, could we get a Persona game on a Nintendo console?
OR ELSE!
Compliments to our Goddess for this piece of superspecialawesome!
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jkid101094

Quote from: Hakudamashi on September 19, 2013, 02:17:48 PM
Hey, SEGA's on good terms with Nintendo right now, could we get a Persona game on a Nintendo console?
I fucking hope so.


Quote from: DracoDraco:  Saber was my bitch LONG before you heard about her.  I introduced you to FSN, loser.  D<
Oh, and still...
ILU JKIDDD

Says you. She likes me more. D<
And ILU2. o3o
IaFNSW.