SNK - pretty fucking broke

[fomaman]

[EDITOR'S NOTE: The beginning of Dark Times of SNK.]

<IMG SRC="smilies/crying.gif" border="0">

[fomaman]

this was SUPPOSED TO BE in the above post.
http://www.mmcafe.com/soup.html

[Sidez]

(Amusement Press, Gpara.com -10/02/01) The district court of Osaka ruled in 10/01 to revoke SNK's application for Rehabilitation Bankruptcy, due to failure of paperwork.


SNK efforted to improve their financial situation since February, closing branch offices and liquidating stocks under Aruze's control. After requesting for a tax extension in March 8th, SNK determined their financial situation too sever to reestablish on its own. In April 2nd, SNK applied for Rehabilitation Bankruptcy in the court of Osaka to have their debt deducted. SNK's debt was estimated at 38 Billion Yen at the time of the request.

SNK was ordered to report its reestablishment plans to the court of Osaka by 9/28, but could not present its writings due to conditions. As result, the Osaka court ruled in 10/01 to revoke SNK's application for Rehabilitation Bankruptcy, sending an administrative order and appointing an assignee for legal purposes.

Once the overturn of SNK's Rehabilitation Bankruptcy is settled, Bankruptcy is scheduled to be declared. A stockholders meeting for SNK has been scheduled by Aruze in 10/11 to appoint ten of their employees as new SNK executives. Aruze is currently SNK's major stockholder; 50.9% share.

SNK's latest game announcement with Eolith, "The King Of Fighters 2001" will be released as scheduled. No details have been announced as to its new distributor.

<IMG SRC="smilies/frown.gif" border="0">

[BRANDI]

<IMG SRC="smilies/crying.gif" border="0"> <IMG SRC="smilies/crying.gif" border="0"> <IMG SRC="smilies/crying.gif" border="0"> <IMG SRC="smilies/ohno.gif" border="0"> <IMG SRC="smilies/ohno.gif" border="0"> <IMG SRC="smilies/ohno.gif" border="0"> <IMG SRC="smilies/ohno.gif" border="0">

[BryLmoo]

Hey Shawn, What do you have to say about this matter? I wouldn't like to see SNK bail out now...that would really blow...

Bryan

[JoyDivision]

Maybe Shawn can buy SNK? He would be the ultimate big tymer!

[Fran]

this sucks...

<IMG SRC="smilies/crying.gif" border="0"> <IMG SRC="smilies/crying.gif" border="0">

[Ran Thrie]

...

[Mystery]

<IMG SRC="smilies/ohno.gif" border="0"> <IMG SRC="smilies/frown.gif" border="0"> <IMG SRC="smilies/crying.gif" border="0"> <IMG SRC="smilies/crying.gif" border="0"> <IMG SRC="smilies/frown.gif" border="0"> <IMG SRC="smilies/ohno.gif" border="0">

[DRUNKEN SHAOLIN DEVIL]

yea and they re released metal slug 3 too huh...man

[Scalpeur]

This time this the end......
...how sad.... <IMG SRC="smilies/crying.gif" border="0">

[7zark7]

I wonder why they didn't file the paper work they needed to....

It would be nice to see a official release about this from snk that is a bit more...clear....I don't understand why the shareholders would need to appoint a new set of execs, or if azure is the controlling shareholder what proposals/options are left...

It seems that if they sell snk that the buyer gets the debt...is that right?

When is it REALLY dead I guess is the hard question.

[FeelGood]

Here's a hint for SNK =&gt; stop making pachinko games on the NGPC. Who buys that crap?! I can understand the big pachinko machines, because that's gambling, and gambling's profitable, but not these dinky crap ass pachisuro pachislot crapity crap. Then there's the plan to switch over to multi platform gaming, which was genius for them to attept such at this crucial stage. There's way too much pressure form the investors (aruze) and the agency problem there is out of hand.

[NeoTurfMasta]

OK, if SNK is not the distributor of KOF 2001, what exactly does this mean? Is SNK the sole producer of MVS carts/hardware? I am not aware of any other company that manufactures MVS hardware. Does this mean it could be put on a system other then Neo? I am not familiar with the workings of the production of MVS carts... Can anyone shed some light on this subject?

[RyoGeo]

God DAMMIT! Just when things were starting to look good again. FUCK! <IMG SRC="smilies/mad.gif" border="0">

[jeff bogard]

i think that if they break from aruze then they are a company alone again and the only way to get back to the gaming industry would be to ally with big names like nintendo and be 2nd party developers. like rare and left field. but instead be part of either sony or microsoft. i think that move would help the company i have no idea i only pray that my favorite company won't go broke.

ifox

[Kim Kaphwan]

WHY GOD, WHY? Shit, this just sucks ass. Does it have to end like this. It's a dream, right? Tell me it's a dream?

[ThePunisher]

NNNOO!! I hope this isnt true. <IMG SRC="smilies/crying.gif" border="0"> <IMG SRC="smilies/frown.gif" border="0"> <IMG SRC="smilies/crying.gif" border="0">

[Sifl]

These are black days for all of us. Let's all show our support for SNK and open our wallets.

[SilentNinja]

Is this some kind of joke....? <IMG SRC="smilies/eek.gif" border="0">

I thought this whole bankrupt thing was over....

[LWK]

SHUDDAP!
SNK lives!
SNK is invincible, they have yearly death threats, this is casual and expected.
SNK lives on. I will give them the benefit of a doubt. NO company is full of surprises like SNK.
Have ye no faith!??!?
KOF 2001 is coming, and GAROU 2 will come as well, SNK would not abandon a fan base that they have supported years after 2D was declared "dead"
Have faith in the company that has had faith in you.
I will get my Garou 2, no matter what happens.
Hell and high water.

[NeoDragoN]

This not going to happen something will happen i have a gut feeling something WILL happen trust me...........

[Caris Nautilus]

SNK's been broke for years, you don't just tally up a 38 billion yen dept in a couple weeks.

[SilentNinja]

Put KOF2001 to the US please....I"m getting tired of all this BS and threats. I have no problem with SNK's financial reestablishments.

[LWK]

Originally posted by NeoDragoN:
<STRONG>This not going to happen something will happen i have a gut feeling something WILL happen trust me...........</STRONG>

Amen brotha, people except the negative to quickly.
SNK can't die, that can't happen.
End of fucking story.

THE FUTURE WILL ALWAYS BE NOW!
SNK!!!!!

[NeoDragoN]

Originally posted by Lord Wolfgang Krauser:
<STRONG>THE FUTURE WILL ALWAYS BE NOW!
SNK!!!!!</STRONG>

2 FUCKIN RIGHT!! SNK 4EVA!!!!!!

[JHendrix]

Um, ok, I'm new to this issure. Azure will try and take SNK out of the gaming biz? Man that would suck....

Especially cause if they go out of buisness, KOF2k1 would be the last MVS game, and as such the price won't go down to fit in a gamer's budget.
Damn it I want that game, and MOTW2

Peace

JHendrix

[pedu]

38 billion Yen... that's about $314 million right?
I thought SNK is a medium-size video game company, 314 million is huge!
hope they can survive and bring us Samurai Shodown 5, Last lade 3, Metal Slug 4 and KOF 2002

Pedu

[alwaysinit]

Originally posted by Drift King EX:
<STRONG>SNK's been broke for years, you don't just tally up a 38 billion yen dept in a couple weeks.</STRONG>

Too right. He's got a good point.

[nruva]

Only problem is... this time it is their fault... They could have gotten the special case bankruptcy, but due to the incompetence of some (many) they did not submit the proper paper work in time. I hate to say it, but this is the kind of stuff that happens during "short timers syndrome". I have seen a lot of computer companies do this... they scrape by to the final release of a project (in this case KOF2K1) then poof... the doors are closed... company dissapears into the abyss... 4th Generation... Pyris.... it's happened before. The company never plans to keep going, just finish the last project... then file bankruptcy and say bye bye... I hope this is not the case, but it does not look to good. I was looking forward to SS5 and MS4, so I hope my feelings are wrong on this. I will remain positive until an offical report... and I will continue to support SNK... good luck guys!

-Nick

[rarehero]

Originally posted by nruva:
<STRONG>Only problem is... this time it is their fault... They could have gotten the special case bankruptcy, but due to the incompetence of some (many) they did not submit the proper paper work in time.
-Nick</STRONG>

i agree Nick.
i feel bad but come on. how do you throw a
chance like that away?
man.. just when i thought things were working
up. i suppose there is some meaning behind
this some where.
eh.
im still in it for the long run SNK.
SNK 4EVER

[ October 03, 2001: Message edited by: rarehero ]

[Jackal]

If SNK truly is dead, it's going to stink. <IMG SRC="smilies/ohno.gif" border="0"> <IMG SRC="smilies/ohno.gif" border="0"> <IMG SRC="smilies/ohno.gif" border="0"> <IMG SRC="smilies/ohno.gif" border="0">

My fingers are crossed for them... a company like SNK is too precious to just let wither & die.

[Neo Bomber Man]

Originally posted by Drift King EX:
<STRONG>SNK's been broke for years, you don't just tally up a 38 billion yen dept in a couple weeks.</STRONG>

Damn that Hyper 64... To put it into perspective, SNK grossed over ¥15.36 bn off The King of Fighters '97 alone. Sure the actual profit was less but anyway, you get the picture that they would appear to be a money-making company, so their debt certainly can't be anything sudden. SNK's long-standing ineptitude has perhaps done them in this time although I'm still as anxious as anyone to know what this "compelling situation" is/was that refrained them from submitting the papers as required.

Here's to hoping for SNK's future.

[Wolferaizer]

"the future is now"

what a great motto. to bad wont last... <IMG SRC="smilies/crying.gif" border="0">

[Marco's Arms Dealer]

They need to merge with someone(I know that sucks ass) but it only way to keep the SNK alive...I hope Sony or Nintendo tries to help.

[7zark7]

Video game companies are bleeding money in general, the transistion from last gen to next gen consoles is really hurting.

In this climate I can't imagine a company buying SNK. They would get a chunk of debt, I'm sure a lot of red tape and more than likely a lot of the talent has already moved on.

If Sega wasn't having as hard a time as it is remaking itself I could see a deal with them making some sense. Sega is one of the last companies to still be making arcade games....

I always felt that if SNK managed to control its costs, and focus on its core market for awhile they could survive long enough to gradually ramp up a Sega like rebirth. I thought that was exactly what was happening...dooh!

Its just damn painful to watch this company shoot itself in the foot over and over again. It reminds me of Apple in the mid 90's.

Well there is always a chance they pull something off....that or they become like Atari, a name that infogrames sticks to games as a sort of brand with no meaing. *shudder* KoF cart racing anyone?

[Daisuke Jigen]

Originally posted by 7zark7:
<STRONG>Well there is always a chance they pull something off....that or they become like Atari, a name that infogrames sticks to games as a sort of brand with no meaing. *shudder* KoF cart racing anyone?</STRONG>

I resent you for puting that image in my haed. I now have horrid images of a little SD Joe Higashi zooming around on a go cart with one fist in the air shooting tornado out the front of his Machine at Terry. Rugal with his sheild to block projectiles... <IMG SRC="smilies/mad.gif" border="0">

[snkmania]

Oh no , seems that there is no KOF'2001 homecart release, that's what i call disasters <IMG SRC="smilies/crying.gif" border="0">

[SilentNinja]

Originally posted by Marco's Arms Dealer:
<STRONG>They need to merge with someone(I know that sucks ass) but it only way to keep the SNK alive...I hope Sony or Nintendo tries to help.</STRONG>

I think Microsoft will be a good idea. Microsoft needs more japanese developers, I think SNK is the best vote. They can buy that company and SNK will make ports on their games in Xbox console and Neo carts.

[Dark Lord Dragon]

No matter what I heard... I still thinks that SNK is still alive, SNK FOREVER, SNK CAN'T DIE EASILY LIKE THIS... ONLY ONE NAME REMAIN... SNK

[Real Bout Maniac]

Originally posted by Daisuke Jigen:
<STRONG>I resent you for puting that image in my haed. I now have horrid images of a little SD Joe Higashi zooming around on a go cart with one fist in the air shooting tornado out the front of his Machine at Terry. Rugal with his sheild to block projectiles... <IMG SRC="smilies/mad.gif" border="0"></STRONG>


Actually... that sounds like it'd be pretty cool! <IMG SRC="smilies/biggrin.gif" border="0">

Heck, I know I'd buy it!! <IMG SRC="smilies/tickled.gif" border="0">

[Lord Illicious]

Originally posted by Marco's Arms Dealer:
<STRONG>They need to merge with someone(I know that sucks ass) but it only way to keep the SNK alive...I hope Sony or Nintendo tries to help.</STRONG>

Yea thats what the should do but with who?

I say merge with Capcom cus they have SNK employees and problaby the designers.

KOF,SS or the LB series wouldnt be bad if done like SF3.
But what about the other games like Metal Slug?

Say Microoft merges with SNK.
That would be ome serious power and back up but who would continue to design the games?

Ide say Capcom is the best bet.

[SakurabaStyle]

Hey:

I guess this is the end for sure this time. Its sad and it sucks, but as usual, SNK has no one to blame but themselves for their financial woes.

Guess that MVS SNK vs. Capcom is pretty much a dream now.

<IMG SRC="smilies/frown.gif" border="0"> <IMG SRC="smilies/crying.gif" border="0"> <IMG SRC="smilies/frown.gif" border="0"> <IMG SRC="smilies/crying.gif" border="0">

-SakurabaStyle

[evasyar]

Originally posted by SakurabaStyle:
<STRONG>Hey:

I guess this is the end for sure this time. Its sad and it sucks, but as usual, SNK has no one to blame but themselves for their financial woes.

Guess that MVS SNK vs. Capcom is pretty much a dream now.

<IMG SRC="smilies/frown.gif" border="0"> <IMG SRC="smilies/crying.gif" border="0"> <IMG SRC="smilies/frown.gif" border="0"> <IMG SRC="smilies/crying.gif" border="0">

-SakurabaStyle</STRONG>

Too true, man, too true... *sigh*

<IMG SRC="smilies/frown.gif" border="0">

[SNK4EVER]

Have faith people, SNK will live on! SNK FOREVER!!!!

[Liquid Snake]

If Microsoft decides to buy SNK, then Bill Gates will be the last boss in KOF2002 <IMG SRC="smilies/smile.gif" border="0">

[NeoLord]

Snk isn't dead yet. Until we read, 'SNK has closed its doors', we really shouldn't worry ourselves.

[wagesofsyn]

Originally posted by snkmania:
<STRONG>Oh no , seems that there is no KOF'2001 homecart release, that's what i call disasters <IMG SRC="smilies/crying.gif" border="0"></STRONG>

We don't know that yet. I didn't think there'd be a Metal Slug 3 homecart. Lo and behold, an ENGLISH version was re-released, as well as Sengoku 3 Japanese AND English versions. KOF 2001 is bound to make them at least some money, as will Garou 2. Profits from their recent ports (Metal Slug X & KOF 99 on PSX; Last Blade 2, Garou, KOF 2000 on DC) will help them some as well, though not as much as I would hope, since all the games were distributed by Agetec. I remember when Hyper 64 failed, and everyone wrote them off then and there. So how many years ago was that now... ?

I'm not saying SNK is having an easy time of this, nor will they. I think their struggle will be an arduous one, but so long as well support SNK in every way that we can, they will pull through. I, for one, will not abandon them, as LWK put it, through "Hell or high water." I hope you all will do the same.

[Neo Bomber Man]

Originally posted by Liquid Snake:
<STRONG>If Microsoft decides to buy SNK, then Bill Gates will be the last boss in KOF2002 <IMG SRC="smilies/smile.gif" border="0"></STRONG>

I can't wait.. <IMG SRC="smilies/smile.gif" border="0"> <IMG SRC="smilies/biggrin.gif" border="0">

[Marco's Arms Dealer]

I just would hate to see this "Microsoft/SNK production"...I hate microsoft.

[Verbatum]

A Moment of silence........................................... ..Thank you SNK. For all the wonderful times, games, and some of the most wonderful art, music, and ambiance ever. You have my utmost respect.

[Eric]

Come on people!
Have a little faith!
300 million+ (American) is chump change to SNK!

All they have to do is 10 copies of US Kizuna Encounter.

Then they would have enough to make the Neo-Neo-Geo!

Plus that system would be backwards compatible!

And we would laugh at all those fools with GameCubes, X-Boxes, and PS2's!

HAHHAHAHA!
We just need faith!
As Parappa the Rappa would say, "I know! I gotta believe!"

OH MY GOD! WHO AM I KIDDING?!?! IT'S ALL OVER!

[Taiso]

I'm not worried about this.

Sure, they're in financial trouble. But the signs of their revitalization were coming around...we don't even know how things like the DC port of Garou, MS3 re-release and the forthcoming KOF2K1 will affect the company.

I'm not too concerned just yet. I have faith that SNK will defy death yet again.

And if they don't, I'm positive someone will pick up the popular licenses (KOF, FF, SS, LB, hopefully AOF) and do stuff with them. I don't know if it will be 'old school' 2D stuff, but at least the properties will continue to exist in one form or another.

I'll light a candle and keep my own vigil...SNK isn't finished yet.

[Fran]

good post,eric......

and taiso........

dunno guys........


lets just sit down and see what happens

it cand end like this,not now......

[ocsmod]

I love SNK and I love the Neo Geo. I really don't want this to happen. Does this mean that I should stop saving for Garou 2 AES and start saving for a PS2? I hope not... <IMG SRC="smilies/crying.gif" border="0">

[Lockheed]

I don't know...these "SNK IS DEAD!" threads have come around nearly every year since 1996. I'll just wait and see what further develops.

[Liquid Snake]

Frankly speaking, it seems like SNK will be wiped from this planet for sure......

I really hate to see <IMG SRC="smilies/frown.gif" border="0">

Aruze will start selling their SNK stockshare soon.....

[Lee Gray]

Neo Geo has always had a special place in my heart,snk have made some really great games and I can say I spent the last ten years playing neo more than any other system,I just hope theire situation turns around,if not lets hope all the other companies continue to make games for the system because after all metal slug 3 was not an snk game so we coulds see 4 and 5 still plus with eolith just making a deal for kof2002 as well as having the 2001 ready,I cant see why they cant continue the series
GOOD LUCK S.N.K

[jbeedham]

SNK just needs to pull a Sega move. Just focus on software and forget about making systems. They could make money by just making MVS games for their existing MVS/AES base and then by also releasing software on the newer systems PS2, Dreamcast, Xbox. That should definitely ensure a comeback.

[chohan]

Yeah SNK should go multi platforming. SNK has allot of fans, but many just can't affort those expensive carts. Going multi platforming would just be a very good move. Not release Motw when the DC has lost many buyers. But release the games at the same time when its released on the MVS aswell.
But its bad news... <IMG SRC="smilies/crying.gif" border="0">

Cho

[Neo Rasa]

Aruze will start selling their SNK stockshare soon.....

You know if one of us were to get a control of a seat in the Japanese technology stock market and we're all willing to pitch in......

[Takumaji]

Originally posted by jbeedham:
<STRONG>SNK just needs to pull a Sega move. Just focus on software and forget about making systems. [...] </STRONG>

Well, consider the advantages other companies would have with 3D environments and developement. Sega could do this because they have a successful 3D arcade board and are experienced with texture mapping, environment shading, bump-mapping, real-time blending, etc. pp., but not SNK, it would be a whole new world for them.

The world of modern casual gaming, with all its 3D stuff, is very different from anything 2D, specially in terms of developement. You need very expensive, very powerful hard and software, and a lot more people. That would mean for SNK to do some serious fund raising, which may be difficult in their current state.

I think they should make the DC the NeoCD of now and port all their top games to it, without any moves towards 3D. Perhaps that would prolong the live of DC and would support both SNK and Sega.

Let's see how MOTW performs (financially) on DC...

[a]

hey shawn..... how about you buying SNK hehehehe.

[BRANDI]

Hey Mitsuagi... what about you...? <IMG SRC="smilies/biggrin.gif" border="0"> <IMG SRC="smilies/biggrin.gif" border="0"> <IMG SRC="smilies/tickled.gif" border="0">