Yoyogi Animation Institute Declares Bankruptcy

posted on 2006-12-07 23:19 EST
Leading Animation and Video Game Training Institute

Yoyogi Live Animation, the parent company of Yoyogi Animation Institute, a training school specializing in anime and videogame creation, declared bankruptcy in Tokyo District Court on the 6th of this month. Founded in 1978, Yoyogi Animation was one of the biggest schools of its kind in Japan, offering various programs in animation, digital imaging, game creation and publishing, and boasting 13 campuses and a total of 6000 students in Japan.

However, the company had been going through difficult times, with lower birthrates and increasing competition from other schools leading to a decline in enrollment. It suffered various setbacks over the past few years, including the seizure of some of its real estate by the regional Taxation Bureau and being sanctioned by the Fair Trade Commission for improper listings of tuition costs.

Total debts are estimated at 220 million yen ($19 million US)

Thanks Kenji

This article has a follow-up: Errata: Yoyogi Live Animation Debt (2006-12-08 08:58)
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