Index Corporation, the parent company of Persona and Shin Megami Tensei developer Atlus, is facing stock delisting and plans to auction off its holdings, reports Bloomberg Japan.
Index will have its stock delisted on July 28 and will begin accepting bids for its operations as early as next week. The company's market value also fell from 6.8 billion yen ($67.7 million) to 1.08 billion yen ($10.8 million).
According to the report, sales are expected to net around 15 billion yen ($149 million USD). Index's decision to offload some of its holdings suggests the company is trying to protect the value of its subsidiaries, which include Japanese developer Atlus and its North American publishing branch.
The report also states that Index CEO Yoshimi Ochiai and Chairman Masami Ochiai plan to resign.
Index declared bankruptcy on June 27, citing a debt of 24.5 billion yen ($224 million) and under accusations of sales fraud. A representative for Atlus offered a statement from studio president and CEO Naoto Hiraoka at the time, stating Atlus was "unaffected" by the proceedings in Japan with Index.
"We're carrying on day-to-day activities, business as usual," Hiraoka said, noting that upcoming games Shin Megami Tensei 4 and Dragon's Crown would still be released on schedule.
Update: A representative for Atlus told Polygon the company's "day to day is unaffected and our games are still shipping." Upcoming PlayStation 3 and Vita role-playing game Dragon's Crown will ship on time.