The lights are on
Update: Bloomberg has provided Game Informer with a direct translation of its story on Atlus parent Index Corporation's upcoming operations sale.
The facts that have emerged indicate that Index's market value has plummeted from 6.8 billion yen ($67.7 million) on the day before the fraud probe was initiated to approximately 1.08 billion yen ($10.8 million). The company is seeking 15 billion in revenue from the sale. As we mentioned earlier, the company's stock will be delisted. We have also learned that company chairperson Masami Ochiai and CEO Yoshimi Ochiai will resign from their posts a day before this occurs.
Atlus has not issued a statement at this time.
News has come in from Bloomberg's Japanese outfit that things have gone from bad to worse for Atlus parent Index Corporation. The company will begin selling off its operations next week.
This follows an announcement at the end of June that Index had filed for "rehabilitation" (a form of bankruptcy) due to debt amounting to 24.5 billion yen ($249 million). The bankruptcy came on the heels of an investigation for "round tripping," a mechanism in which sales numbers are inflated to defraud investors.
Index will be delisted from JASDAQ on July 28, and the company hopes to move quickly before its assets are devalued. The entire matter could be wrapped up as early as September. We have reached out to Atlus for comment.
[Source: Bloomberg via Destructoid]
Our TakeWhen I wrote further analysis about this situation in the June 29, 2013 weekly recap, I identified a number of possible scenarios. The best case, in which Index recovers, is off the table.
This leaves three others, and until we know for certain if Atlus' games were involved in the round tripping fraud, it's hard to know what's going to happen. My hope is that whomever picks up the publisher and its stable of fantastic RPGs recognizes the company for its successes.
Atlus has only been picking up steam in the past few years, and its certainly found a rhythm on handheld devices. While I would prefer to see Persona 5 on a home console, right now I'm more concerned about getting it at all.
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Steve Ballmer is probably watching this like a hawk.
nintendo buy them
And another one bites the dust.
It seems unlikely that Atlus can survive on their own with its current library. By no means is persona a bad game and has no fan base, but to get the sales they need to remain alive as an independent dev just doesn't seem likely. Not if they plan on putting games out of the same high quality and production values.
Now, as far as them getting picked up... I think Nintendo has a good chance of doing it. FExSMT looked like it was a match made in heaven, and there are a lot of people excited for that. Atlus has also been showing consistent support on 3DS. I know a lot of people would be disappointed to make them exclusive, but that would be a huge boost for Nintendo and it would show that they do still care about more than Mario and Zelda.
I wonder who will pick them up.
Aw Cr*p. I hope this doesn't delay any games.
This is worrisome indeed. I really like both Etrain Oddyssey and SMT/Persona. Hopefully whomever picks them up still decides to keep the team and not just give them the boot. Those guys know what they're doing with their games.
Please don't die Atlus! We need Persona in our lives!
Put it on console who ever picks up Atlus, Please!
Mr. Jabari appears to have made a good business move-- two fold.
Publishers: Enabling great games and/or destroying developers with crappy business moves.
The same tragic fate happened to Working Designs :/