WIT Studio is US$7.73 Million in Debt

WIT Studio is reportedly in huge debt. Parent company I.G. Post has stepped in to resolve the matter.

WIT Studio is US$7.73 Million in Debt

WIT Studio is known for producing hit anime series like Attack On Titan, Vinland Saga, Seraph of the End, Ancient Magus Bride and more. But apparently, the Studio has not been doing so great lately. According to a report by a Japanese media industry website GameBiz, WIT Studio is in a deficit of 40.3%, about 512 Million Yen in its yearly reports. From June 1, 2020, to May 21, 2021, WIT Studio’s revenue has declined to 1.235 Billion Yen, about US$11.03 Million, with a recurring Loss of 486 Million Yen, about US$4.34 Million, and a bottom-line Loss of 501 Million Yen, about US$4.47 Million.

WIT Studio also lost 173 Million Yen, about $1.54 Million, last year. But the losses this year are staggering and have widened its overall deficit to 866 Million Yen, about US$7.73 Million.

Due to such huge losses, the parent company, I.G. Port, has decided to step in and manage the Studio themselves. I.G. Port has launched a Subsidiary Management Project, where they will be working with the administration of WIT Studio to decrease the deficit and help it turn a profit by cutting its excessive liabilities.

I.G. Port normally leaves its subsidiaries alone, but these loses have forced the parent company to step in and essentially save the Studio from a potential Bankruptcy/Merger. It’s not known which previous anime or rather future work caused such a huge loss, but WIT Studio is still expected to release their currently ongoing projects on schedule.

Source [GAMEBIZ]