Production IMS, the animation studio based in Nerima, Tokyo, known for production of anime titles such as Inari, Konkon, Koi Iroha., Shinmai Maou no Testament, and High School Fleet, has been declared bankrupt. Credit and marketing information firm Tokyo Shoko Research reported on Thursday that Production IMS filed for bankruptcy on September 21. Tokyo District Court granted the application on October 3, allowing the company to commence bankruptcy proceedings.
Yoshiyuki Matsuzaki, an animation producer who had worked on titles such as Girls Bravo and Strike Witches 2 at AIC, founded Production IMS in 2013 after leaving his former employer. He was later joined by producer Jiyuu Ougi, who left AIC having worked on Sora no Otoshimono and Boku wa Tomodachi ga Sukunai.
Production IMS saw early success with titles such as Date A Live II and Shinmai Maou no Testament. However, the company was met rising costs in production and payments to subcontractors. Cash flow deteriorated as sales also turned sluggish. By December 2017, the company was forced to restructure operations and consolidate its two studio spaces in Nerima into one.
The consolidation appeared to only delay the company's demise. This past June, Production IMS sent letters to subcontractors saying that it was unable to fulfill debt obligations and that it was hiring a law firm to assist with debt consolidation. Sources interviewed by Tokyo Shoko Research who were knowledgeable of internal discussions said Production IMS began that process with the anticipation of eventual bankruptcy filing and liquidation of the business.
Total debt has been set at 250 million yen (approximately US$2.23 million). Tokyo District Court has set a deadline of November 7 for creditors to submit a claim for payment in the bankruptcy case. A creditors meeting will also be held on February 5, 2019, to discuss the outcome of the bankruptcy proceedings.
Source: Tokyo Shoko Research 1, Tokyo Shoko Research 2, Animation Business Journal
News submitted by DonTrumpolino
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Anime