Why Shin Megami Tensei 4 is my most anticipated JRPG of 2013
Index Corporation, parent company of Shin Megami Tensei and Persona publisher Atlus, is petitioning for "civil rehabilitation proceedings," a form of bankruptcy protection under Japanese law.

As part of its petition, as of May, the company has ¥24.5 billion ($249 million) in total liabilities.

Jurists.co.jp has a pretty solid explanation of the procedure from this point forward. The company will have a supervisor appointed and a plan will be drawn up for rehabilitation of the company. After that, there is a creditors meeting and approval. Then the company is supposed to follow the plan.

We've reached out to Atlus for a statement about if this will have any impact on the company's daily business or release schedule.

Update: Atlus provided the following statement from President and CEO Naoto Hiraoka: "Currently, Index Digital Media, Inc. and the Atlus brand are unaffected by the Index Corporation proceedings in Japan. We're carrying on day-to-day activities, business as usual. Shin Megami Tensei IV and Dragon's Crown are still releasing on July 16 and August 6 respectively, and we're licensing and publishing third-party titles such as R.I.P.D: The Game and Daylight. We want to thank all of our fans for their outpouring of support."

This article was originally published on Joystiq.