By Ishaan . June 27, 2013 . 9:00am
Index Corporation, the company that owns Atlus, has begun civil rehabilitation procedures in Japan. That’s a fancy way of saying that the company is filing for bankruptcy (thanks, Hachima), owing to 2.45 billion yen in outstanding debt and less than expected sales in foreign territories.
This news follows earlier reports about Index being investigated for fraud. Additionally, CEO Yoshimi Ochiai has hinted at his resignation from the company.
Index are taking measures to turn the situation around, though, and are looking for a sponsors to transfer their games business operations. In the meantime, the company has stated over Twitter that sales of Atlus’ games such as Etrian Odyssey Untold: Millennium Girl and Dragon’s Crown will continue as per planned.