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Japanese Idol App Firm Collapses Amid Wave of Bankruptcies

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Japanese Idol App Firm Collapses Amid Wave of Bankruptcies A Japanese company known for a game app based around virtual teen idols filed for bankruptcy, the latest in a wave of corporate failures that climbed to the most in 12 years as inflation and worker shortages hit weaker firms. Tokyo-based ODD No. Inc. began bankruptcy proceedings this month, according to law firm Iinuma & Partners, which is serving as its trustee. The company, mainly known for its interactive animation game app Link!

Japanese Idol App Firm Collapses Amid Wave of Bankruptcies A Japanese company known for a game app based around virtual teen idols filed for bankruptcy, the latest in a wave of corporate failures that climbed to the most in 12 years as inflation and worker shortages hit weaker firms. Tokyo-based ODD No. Inc. began bankruptcy proceedings this month, according to law firm Iinuma & Partners, which is serving as its trustee. The company, mainly known for its interactive animation game app Link! Like! Lovelive!, had ¥10.7 billion ($67.2 million) in liabilities, according to Tokyo Shoko Research Ltd. That made it one of the biggest bankruptcies in Japan so far this year in terms of money owed, data from the market research firm showed.
Japanese (ORG) Tokyo (LOCATION) ODD No. Inc. (ORG) Iinuma & Partners (ORG) Lovelive (PERSON) Tokyo Shoko Research Ltd. (ORG) Japan (LOCATION)
Originally published by Bloomberg Technology Read original →