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Atlus' parent company raided for fraud
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Atlus' parent company Index is being investigated for account fraud and the Securities and Exchange Surveillance Commission raided their office today. It's being reported on the evening news here, which is a clear sign of the issue's magnitude. According to the [URL=http://www.nikkei.com/article/DGXNASDG12016_S3A610C1CC0000/]Nikkei[/URL] and other media outlets, Index corporation, best known for its [i]Atlus[/i] videogame brand, is being investigated under alligations of infringed bookkeeping. The company is under suspect for having inflated its sales figures through [i]round-tripping[/i], making fictitious transactions through multiple companies. A couple dozen companies and business clients were supposedly used, including those without capital ties to Index. (Update: [i]The Nikkei[/i] now reports that over 100 companies may have been involved) Index allegedly bloated sales figures in the billion yens (million dollars) per quarter up to its August 2012 period, with its CEO taking direction. His house is also being searched. Index acquired Atlus in 2006 and was known as a leading content distributor making 130 billion yen in FY2007. The company's tide started turning in the years after due to its inability to keep up with the shift of the mobile market and issues in penetrating the overseas, amongst other failures. It's being said that the bankruptcy of their partnered bank [i]Nippon Shinkou[/i] in September 2010 further worsened their financial health, leading to their alleged infringements. Coincedently, that's only about a year before KOF13 came out for consoles. Considering the scale of this investigation and that Atlus was the game's North American publisher, it wouldn't be surprising if SNKPlaymore got a knock on their doors. Not that it'll be any of problem. Hopefully. This also brings up the question of what will happen to Dragon's Crown and Atlus' future titles & updates, their game servers, as well as other projects under the water. Dragon's Crown's trial event this weekend in Tokyo has just been postponed without explanations, which isn't a great sign. Fortunately though, [URL=https://twitter.com/Atlus_jp/status/344690223239798785]Atlus PR says[/URL] that its scheduled titles will be launched as planned. Moreso, it brings about the question of whether Index will get delisted from JASDAQ as a result, and also of what'll happen of Atlus in that case. Needless to day, Index's price has been [URL=http://www.reuters.com/finance/stocks/overview?symbol=4835.OS]plummeting to an all-time low[/URL] and it's still far from over.
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