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Clover Studio Shuts Down

by Rainier on Oct. 12, 2006 @ 2:11 a.m. PDT

Now here is a surprise! Capcom announced that it will shut down much heralded internal developer Clover Studio. Known for Viewtiful Joe, and more recently the excellent Okami, and just released God Hand, Clover Studio will close its doors March 2007, in what Capcom calls an attempt to improve its global development structure.

Capcom Co., Ltd., hereby announces that a resolution was passed at the Board of Directors’ meeting held on October 12, 2006 that Clover Studio Co., Ltd., one of consolidated subsidiaries, is to be dissolved.

Clover Studio Co., Ltd. has met the goal of developing unique and creative original home video game software, however, in view of promoting a business strategy that concentrates management resources on a selected business to enhance the efficiency of the development power of the entire Capcom group, the dissolution of Clover Studio Co., Ltd. has been raised and passed at a Board of Directors' meeting.

The impact of the dissolution of Clover Studio Co., Ltd. on the financial forecasts, separately announced on the same day, is inclusive as part of Extraordinary Losses amounting to 400 million yen.

Clover Studio Co., Ltd is scheduled to shut down end of March, 2007

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