Yoyogi Animation School Declares Bankruptcy

On December 6th, Yoyogi Live Animation Co., Ltd. (Yoyogi, Shibuya Ward, President - Ryoich Ishikawa, Capital - 40 million yen, 40 employees) petitioned for the Companies' Creditors Arrangement Act, and on the same day received the Preservation of Assets Order from the Tokyo District Court.

Established in May of 1978, Yoyogi Live Animation managed the anime school Yoyogi Animation Gakuin (代々木アニメーション学院), which had over 6000 students in its 13 different branches of study. Yoyogi Animation Gakuin, one of the largest anime schools in Japan, has earned great recognition for its honorable history, positive scores, and the large number of graduates. The animation school has raised numerous anime creators within its Anime department, as the Imaging, Game Creation, and Show Business departments. The revenue of the school was reported to be approximately 7,700 million yen in April 1998.

The school’s revenue dropped to 5,000 million yen in April of 2005, partly due to the effect of declining birth rates, and partly due to severe competition from rival schools that have established their own anime or manga department. In an attempt to recover and attract more students, Yoyogi Animation Gakuin created new branches, raised the employment rate, and lowered the tuition, but the number of students did not increase.

In November 2004, the Tokyo Taxation Bureau levied the property owned by Yoyogi Live Animation. In May 2006, the Fair Trade Committee ordered the removal of the school’s incorrect explanation of its tuition. Yoyogi Live Animation’s public credibility was damaged by the two incidents. While the cash flow continued to worsen, it became harder for the school to pay for debts. After the school filed for bankruptcy, its total debt is estimated to be approximately 2,200 million yen.

Source: Teikoku Databank