Remember Ultimate Shooting Collection? UFO Interactive brought over that compilation which included shooters Chaos Field, Radligy, and Karous for Wii. That was from Milestone, the company that also made Tank Beat and the oddball eroge fighter Twinkle Queen.
Milestone also released Project Cerberus for PSP and their last game was a speed reading game for the DS. The reason why Milestone is out of business is quite different from other publishers. The company’s president, Hiroshi Kimura, also started a bio energy company called MS Bio Energy which was constructing a bio-ethanol plant in Vietnam. Milestone violated the Financial Instruments and Exchange Act when selling securities for the new company and Kimura has been arrested.
Milestone recently shut down their website too indicating that the arcade/game division is also out of business.