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Yoyogi Animation Applies for "Rehabilitaiton"
posted on by Jonathan Mays
Yoyogi Animation Gakuin, the largest animation institute in Japan, has applied for corporate rehabilitation under Japan's Civil Rehabilitation Law. The law, enacted in 2000, allows a company facing financial difficulty to restructure under the protection of a court, similar to Chapter 11 bankruptcy in America. The company reportedly owes more than 2 billion yen in debt.
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