Atlus’ parent company Index Holdings has declared bankruptcy at Tokyo District Court.

The company, which bought Atlus in 2006, is 24.5 billion yen in debt, which is roughlyt USD $250 million or GBP £160 million.

President Yoshimi Ochiai and Chairman Masami Ochiai intend to resign.

The Securities and Exchange Surveillance Commission of Japan have been investigating the company for allegedly improper accounting via fictitious transactions, specifically under the suspicious of exaggerating revenues using round-trip transactions.

Meanwhile, Atlus Japan said everything is still on track with their upcoming game releases. Etrian Odyssey Untold: The Millennium Girl was released today in Japan, and Dragon’s Crown is due out on July 25.