Sad News Out of Japan: ATLUS is "Under Reorganization"

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According to this website, and corroborated by this one, it would appear as though ATLUS has declared bankruptcy. Though the articles clearly state that the company is “under reorganization,” my source in Japan tells me this is specifically to avoid the social stigma of the declaration. If ATLUS plans on continuing business, they would have to reorganize under a different name entirely.

Included in the articles are assurances that this will not affect Dragon’s Crown, and that they want to work to attract new sponsors; but that they’re also willing to allow for a larger company to acquire them.

It appears that the company is in the red to the tune of 24.5 billion Yen (250 million US dollars), and the reason they’ve been operating under this debt for as long as they have is due to the fact that a bank they were tied into kept floating them loans. When the bank finally went under, they were forced to reveal this information and declare bankruptcy.

They are currently under investigation for accounting fraud.