Reports: THQ closing Japan publishing arm

Reports: THQ closing Japan publishing arm
Craig Chapple

By Craig Chapple

February 16th 2012 at 10:27AM

'All staff to leave company at the end of the month'

THQ is to close its Japan publishing arm on February 29th, according to reports.

Japanese website Impress Watch, translated by Andriasang, claims that all staff will leave the company when it closes at the end of the month.

It said the decision was taken to close the office after the recent well-documented financial troubles of its parent company, based in North America.

THQ recently axed 240 staff, with CEO Brian Farrell halving his salary to $360,000 amid a torrid financial year.

The publisher has also been threatened with a NASDAQ de-listing unless it could turn its revenues around. THQ announced earlier this month a $56 million net loss for the last three months of 2011.

The company however has outlined a 17 game rescue plan of titles including Darksiders II, Metro Last Light and Homefront 2 to help the publisher recover over the next few years.