Dissolution of Clover Studio

Right after the official release of God Hand CAPCOM announced the dissolution of Clover Studio, an experimental game development studio that was specially created to implement new gameplay ideas.

During his short life, Clover Studio released several innovative games, some of them still having to be released in different areas around the world:

• Viewtiful Joe and its sequels
  
• Okami
  
• God Hand

CAPCOM recognized that Clover Studio successfully built refreshing games, despite a loss of 400 million yens (US$ 3.3M).

The news has been widely commented on the industry-related web sites (see this featured article on on gameindustry.biz).

The official CAPCOM press release about the dissolution of Clover Studio can be read here.

October 12th, 2006

Press Release

Company Name	Capcom Co., Ltd.
Representative	Kenzo Tsujimoto, President & C.E.O.
(Company Code: 9697　Tokyo-Osaka Stock Exchange)
Contact	Public Relations & Investor Relation Section
Phone Number	+81-6-6920-3623

Notice about Dissolution of Consolidated Subsidiaries

 

 

Capcom Co., Ltd., hereby announces that a resolution was passed at the Board of Directors’ meeting held on October 12, 2006 that Clover Studio Co., Ltd., one of consolidated subsidiaries, is to be dissolved. The details of the dissolution are as follows:

 

1. Details of Consolidated Subsidiary to be Dissolved
   (1) Trade Name: Clover Studio Co., Ltd.
   (2) Head Office: 3-2-8 Uchihirano-machi, Chuo-ku, Osaka 540-0037, Japan
   (3) Representative: Haruhiro Tsujimoto
   (4) Date of Establishment: July 1, 2004
   (5) Paid-in Capital (millions of yen): 90
   (6) Principal Businesses: Development of software
   (7) Primary Shareholder: Clover Studio Co., Ltd. is a 100% subsidiary company of Capcom Co., Ltd.
   
   
2. Reason for the Dissolution:
   Clover Studio Co., Ltd. has met the goal of developing unique and creative original home video game software, however, in view of promoting a business strategy that concentrates management resources on a selected business to enhance the efficiency of the development power of the entire Capcom group, the dissolution of Clover Studio Co., Ltd. has been raised and passed at a Board of Directors' meeting.
   
   
3. Schedule of Dissolution:
   End of March, 2007
   
   
4. Impact on Financial Forecasts:
   The impact of the dissolution of Clover Studio Co., Ltd. on the financial forecasts, separately announced on the same day, is inclusive as part of Extraordinary Losses amounting to 400 million yen.