Bandai Namco has announced that it will dissolve and liquidate Reflector Entertainment. Bandai Namco initially acquired the company in September 2020.
Reflector Entertainment previously developed Unknown 9: Awakening for PlayStation, Xbox, and PC. Furthermore, while Bandai Namco initially tasked Reflector with working on an existing IP, these plans seemingly never came to fruition. The company further outlines the choice and its consequences in a press release:
The Group continuously reviews its business portfolio and intra-Group developmental structure for its
medium- and long-term growth and to enhance corporate value. After comprehensively considering future business plans, necessary additional investment, and the possibility of profitability and business continuation, the Company has decided to discontinue Reflector’s business, dissolve and liquidate it.
Liquidation is expected to be complete once the necessary procedures according to local laws are
completed. However, a concrete schedule is undecided as of now. The Company will advance the necessary procedures according to local laws and regulations, and once said procedures are completed, the liquidation will be complete.
In regard to losses associated with this matter, the Company expects to post an extraordinary loss of
approximately 21 million euros (approx. 3.5 billion yen) on its consolidated financial statements for the third quarter (nine months) of the fiscal year ending March 31, 2027 and thereafter. The amount stated here is an estimate based on information currently available. The actual amount of the loss and the timing of its posting are currently under review. Moreover, the amount of the loss and the timing of its posting may change depending on future procedures of the dissolution and liquidation, as well as tax and accounting treatment, etc. When matters needing to be disclosed arise going forward, the Company will promptly disclose them.
