GAINAX, the Evangelion studio, reveals its great debt

In recent days, news has been confirmed of the bankruptcy of GAINAX, the iconic anime production studio co-founded in 1984 by Hideaki Anno, the creator of "Neon Genesis Evangelion." A recent report by Tokyo Shoko Research has revealed that GAINAX had a debt of approximately 380 million yen ($2.42 million) with around 71 creditors prior to its bankruptcy filing. The company filed for bankruptcy on May 29, 2024, which was accepted by the Tokyo District Court on June 5, 2024.

GAINAX's financial mismanagement and large number of creditors came as no surprise after its initial statement last week, in which it described how the company had made large unsecured loans to individual executives. Subsequently, Anno's studio, Studio Khara, stepped in to stabilize the situation and found that large amounts of undisclosed loans had been made at the management level.

GAINAX's inability to meet its debts led to several companies suing it through a debt collection company. In response to the bankruptcy, Studio Khara issued an official statement providing additional context. A team was formed to "prevent reputational damage to works such as Neon Genesis Evangelion and others." Evangelion's reputation had been particularly affected following the arrest of GAINAX's president for sexual assault of a minor.

Hideaki Anno published an op-ed threatening legal action for any unfair association between his work and the then-president of GAINAX. The team formed by Anno included Kadokawa, King Records Co., Ltd., Studio Khara, and TRIGGER Inc., whose founder, Hiroyuki Imaishi, also previously worked at GAINAX. "At the very least," Khara's statement continued, "we seek to resolve outstanding payments to studios, writers, and creators within the animation industry, and prevent the loss of intellectual property and documents."

As for the future of GAINAX's intellectual properties, many of them have already been transferred to other companies. Production IG now owns the rights to the anime "FLCL," while TRIGGER will release a sequel to "Panty & Stocking with Garterbelt," after confirming the acquisition of the intellectual property last year.

The fall of GAINAX marks the end of an era for one of the most influential studios in the history of anime, whose productions have left an indelible mark on popular culture. Negligent financial handling and legal issues have overshadowed his legacy, but the intervention of Studio Khara and other studios seeks to preserve and continue GAINAX's work, ensuring that its contributions to the anime industry are not lost to time.

Source: Tokyo Shoko Research