hot  /  reviews  /  video  /  blogs  /  forum

Things aren't looking so good for Cave Interactive

6:00 AM on 05.17.2012 // Kyle MacGregor
  @DtoidKyle

Sorry all you bored PlayStation Vita owners! While Cave Interactive announced its support for Sony's new portable at TGS last year that's not happening anymore. The latest issue of Famitsu magazine listed both titles amidst a group of canceled projects. 

Though Famitsu gave no indication as to why, the answer might have its genesis in a recent Japanese financial scare. GREE, Japan's premier social networking service and one of Cave's largest sources of funding, took a massive hit last week when proposed government regulation caused their stock prices to take a nosedive. GREE CEO Yoshikazu Tanaka personally lost $700 million as shareholders abandoned ship right and left. 

Additionally, Cave executive VP and COO Mikio Watanabe is leaving the company for personal reasons. Though he is staying on as a representative director until their next shareholder meeting in August, his departure leaves CEO Ito Masahito as the only remaining representative director.

So yeah, things don't sound to be going terribly well for Cave at the moment. Then again, their next bullet-hell adventure Akai Katana is coming to Xbox 360 in North America this Friday thanks to Rising Star Games and Aksys. It could be the next Halo. Who knows? Maybe you should do your part and pre-order it or something

Cave COO Miko Watanabe ResignsCave Cans PlayStation Vita Titles [Andriasang via Joystiq]


 Reblog (or) Blog Reply



Kyle MacGregor, Associate Editor
 Follow Blog + disclosure DtoidKyle Tips
Kyle has called Destructoid home for donkey's years, starting out in the Cblogs as a Nintendo Wii apologist before eventually, somehow winding up as its resident JRPG zealot. Living the dream... more   |   staff directory

Get more destructoid:   We're indie-run, blogging for the love of it, and our site will always be free. Optionally, you can support us and get: (1) Faster pages from our cloud server (3) Wide(r)screen (3) No big ads on Dtoid, Japanator, Tomopop, or Flixist (4) Auto contest entries, and (5) Dibs on betas & downloads. Try it out

 Setup email comments

Unsavory comments? Please report harassment, spam, and hate speech to our moderators, and flag the user (we will ban users dishing bad karma). Can't see comments? Apps like Avast or browser extensions can cause it. You can fix it by adding *.disqus.com to your whitelists.
advertisement:


destructoid's previous coverage:
Akai Katana


View all:powered by:  MM.Elephant

Ads on destructoid may be purchased from:



Please contact Crave Online, thanks!





Back to Top


LET'S BECOME WEIRD NEIGHBORS - Please follow us on Facebook and Twitter
  Light Theme      Dark Theme
What is the meaning of life, and do you have any more pizza rolls?
You may remix all content on this site under Creative Commons with Attribution
- Living the dream, Since 2006 -