News: Telenet Japan closes

| Zepy

telenet.jpgTokei News reports that Telenet Japan, once famous for games such as Valis and Arcus has closed down after 24 years in the business. Apparently selling their game properties to eroge makers wasn’t enough to keep the company going.

They had been focusing on the pachinko business recently and recorded
452 million yen in sales last year in March but their profits were bad
and they continued to be in constant debt. Strategies such as selling
their gaming properties and selling their stock holdings in order to
rebuild the company’s financial ability reached a limit and they could
no longer keep the company going.

<Brandon’s note:> As of the closing date, only 18 people were still working for Telnet, which is pretty sad, considering its heyday. There’s some vague stuff in here too, like talk of a failed U.S. subsidiary game center, which I can’t even imagine anyone thinking was a good idea. I wonder who, if anyone, will buy the rights to their legacy titles? They had lots of good games in the 80s and 90s…I guess 3D killed them. That and Wolf Team going away, and their SFC RPGs not really taking off. They mention that they worked on a lot of the Tales games in their company profile. Unfortunately their history is updated only to 2001, but they did make Angel Golf and some idol mahjong games after that. Even more curious, they don’t list Valis or Arcus as franchises they own – did they sell the rights completely? That would be quite distressing. The last game in the old style I’ve seen evidence of from them is Valis for mobile remake, but that may have been developed by Bandai. Must’ve been a depressing last few days around the offices, with all your licenses gone, and mountains of debt.

<Recap’s note:> Telenet indeed ‘worked’ on many ‘Tales of’ games, since they co-owned Tales Team along with Namco till not too long ago. Let’s not forget that Tales Team was formed up from some ex Wolf Team staff. And being honest, Telenet never released a truly remarkable quality title which wasn’t signed by Wolf Team. It was the dissolution of this developer what actually put an end to Telenet’s relevance as a video-game company.

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