GAINAX, the Evangelion studio, goes bankrupt

After several poor financial and management results, the "Neon Genesis Evangelion" studio, GAINAX, has filed for bankruptcy, soon ending its 40-year history.

Through the official site, GAINAX Co., Ltd.'s bankruptcy petition has been accepted by the Tokyo District Court. The announcement highlights numerous executive failures and unsuccessful ventures, such as restaurant management, an "unplanned" CG animation company, large unsecured loans to individual executives, and failure to secure investment contracts. As a result, "we fell into a difficult situation," the report continues, "such as being expelled from the committee for non-payment of rights and being sued for loans." A notable example is that of Studio Khara, which successfully sued GAINAX for non-payment of royalties.

The statement paints the studio as a sinking ship, with numerous executives shedding names bearing "GAINAX," leading to "numerous resignations and the loss of our animation production role as a studio." Those former staff also "continued to work with the Gainax brand without taking this predicament into account." GAINAX's former representative director, Tomohiro Maki, described in the statement as a person "with no knowledge of anime production," was arrested a year into his tenure in 2019 for sexual assault of a minor, which accelerated the collapse.

Following the scandal, GAINAX began reviewing its financial conditions and uncovered large amounts of undeclared loans to banks at the management level, the sale and transfer of intellectual property without legitimate permission, and the non-payment of debts to various companies. Despite attempts, such as selling the rights to "Panty and Stocking with Garterbelt", GAINAX was unable to resolve its huge debt. Finally, a debt collection company sued them in May 2024. "We decided that it would be difficult to continue with our business, so we filed for bankruptcy," GAINAX continued, apologizing to everyone who had trusted the company.

The bankruptcy of the company means the end of an important entity in anime production, with works for which GAINAX is responsible, among others, "Neon Genesis Evangelion", "FLCL" and "Tengen Toppa Gurren Lagann". Hiroyuki Imaishi had left GAINAX to found Studio Trigger, as had Shinji Higuchi in the case of Gonzo, whose works include "Welcome to the N.H.K," "Hellsing," and "Full Metal Panic." To prevent misuse of GAINAX's trademark, it has since been transferred to Studio Khara, who is credited with being a major helper during their matches.

Source: Official Site