Index Holdings Files for Bankruptcy

Index Holdings, best known as the parent company of Atlus, has declared bankruptcy to the tune of 24.5 billion yen, or about $250 million US. This comes amidst an investigation by Japan’s Securities and Exchange Surveillance Commission of improper accounting and exaggerated revenues, particularly through the use of roundtripping; a common tax evasion and money laundering strategy, a large component of that Cyprus flare-up from earlier in the year.

For their part, Atlus has stated that upcoming game releases haven’t been affected. Etrian Odyssey Untold: The Millenium Girl is out now in Japan, and Dragon’s Crown hits stores on July 25.

Source: Gematsu

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