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Fate/Extra Developer Imageepoch Files for Bankruptcy
posted on by Rafael Antonio Pineda
Japanese game developer Imageepoch as well as company Smile Online Game filed for bankruptcy with the Tokyo District Court last Thursday.
The deadline for the companies to file their credit is June 4. The company will also hold a meeting for a report on its assets on July 30.
Imageepoch lists around 1.1 billion yen (around US$9.17 million) in debt to 43 creditors. company Smile Online Games lists around 3 million yen (around US$25,015) to five creditors.
Imageepoch was established in 2004, and developed such games as Luminous Arc, 7th Dragon, Fate/Extra, and Time and Eternity. The company earned an income of 1.7 billion yen (US$14 million) in the fiscal year ending in September 2011. Rising development costs and failure to reach sales targets put its annual income at 410 million yen (US$3.4 million) in the fiscal year ending in September 2013. The company was unable to recover, and by November last year, it had suspended all major development activity.
offline as of last Wednesday.
Sega is now publishing the title.
Source: Teikoku Databank via Hachima Kikō
