Newsbrief: Japanese developer and publisher Agatsuma Entertainment announced its closure on December 11. Liquidation of its assets will complete by March 31 of next year.
The reason given was "difficulty guaranteeing profit because of deteriorating administrative conditions," according to a story based on the original Japanese-language press release, as reported by Anime News Network.
Agatsuma Entertainment was best known in the West for developing and distributing the long-running cult action-platforming series Umihara Kawase; it had recently released the latest installment, Sayonara Umihara Kawase, on Steam in the West in October, as well as a trilogy package which includes all three games in the franchise. The company also produced 2012 3DS RPG-tinged beat 'em up Code of Princess, which Atlus released in North America.
The company is a subsidiary of Agatsuma Co. Ltd., a Japanese toy manufacturer originally established in 1937.