Last month we learned that Atlus parent company Index Corporation was in a fiscal mess due to a debt of 2.45 billion yen and fraud investigations and had entered "civil rehabilitation proceedings," akin to American bankruptc.
According to Bloomberg, with some help in translation from Mad Man's Cafe, it seems Index will begin selling off its subsidiary operations. Bidding could start as early as next week and finish as quickly as September. As we guessed last month, it seems Index wants to get things done before any of its operations devalue amidst the turmoil -- production could be impacted, employees could jump ship, etc. Settlements could reach as high as 15 billion yen, according to experts.
Index stock will be delisted on July 28. Atlus Japan recently issued a statement on its website noting, "the development and sales of the Atlus brand as well as the consumer business will continue." It also confirmed that regularly planned releases of various upcoming titles, like Dragon's Crown, would be unaffected by the proceedings. Even next month's Persona music festival in Japan is going as planned. Hopefully things keep moving smoothly.
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