It was reported today that Common Sense, the parent company of Studio Arms has declared bankruptcy.
The report was made through Tokyo Shoko Research, a credit research company. The company filed for special liquidation on July 22. The decision to file for bankruptcy was made during a shareholder meeting back on May 31.
The company formed in 1996 and has created series such as Elfen Lied, Himawari!, Ikki Tousen: Dragon Destiny, Genshiken, Queen’s Blade, Valkyrie Drive, and many others.
When the company was founded, it was initially named Dandelion and later changed to Triple X. The animator and character designer Rin Shin is the chief animation director for several productions by Arms which tend to have an above-average amount of fanservice. He also developed the character designs for I”s Pure.
After its founding, ARMS was, at first, a producer of hentai (most notably its productions with Green Bunny), but has since ceased productions of erotica with the growing popularity of their televised works.
