News Jun Planning Files for Bankruptcy in Japan
posted on 2009-05-12 07:09 EDT
According to the Teikoku Databank financial research firm, the Japanese figure and character goods maker Jun Planning suspended operations on April 30 and prepared to file for bankruptcy. It was 3.2 billion yen (about US$33 million) in debt. The company was established in 1983 to produce and distribute plush toys and figures of anime characters and animals. Among its popular offerings were character goods based on Death Note, Hayate the Combat Butler, Kuroshitsuji, Shakugan no Shana, The Familiar of Zero, and Black Lagoon.
Jun Planning recorded 3.6 billion yen (US$37 million) in sales during the fiscal year ending in March of 2007, but its sales dropped and its financing options worsened as consumer spending slumped. Jun Planning shut down its American operations in the same week that it suspended operations in Japan.
Source: ITmedia News