The legendary Japanese animation studio Gainax, behind “Neon Genesis Evangelion,” has declared bankruptcy after nearly four decades in operation. The announcement was made on Friday via their website, revealing that the bankruptcy petition was filed on May 29.
Gainax’s financial troubles stemmed from years of heavy debt exacerbated by mismanagement. This news coincides with a surge in global interest in Japanese pop culture and just before the Annecy International Animated Film Festival.
Founded in 1984 as Daicon Film by industry icons like Anno Hideaki and Sadamoto Yoshiyuki, Gainax’s greatest success came with 1995’s “Evangelion,” which generated over $2 billion in global revenue.
However, the company faced significant setbacks, including the arrest and imprisonment of two executives in 1998 for tax evasion. Anno left in 2006 to start his own company, Khara, marking the beginning of Gainax’s decline.
Under Maki Tomohiro, who joined in 1992, Gainax diversified into ventures such as a failing restaurant business and an unsuccessful CG operation, leading to large unsecured loans and mounting debts.
These financial woes prevented Gainax from paying royalties and participating in production committees, causing further departures of talent and executives.
In 2019, Maki’s arrest for sexual assault on a minor severely crippled Gainax, leading to an inability to operate under a heavy debt load. Subsequent investigations revealed more debts and unauthorized transactions.
Despite attempts to collaborate with Khara, Kadokawa, King Records, and Trigger, Gainax was sued by a debt collection company in May and chose to file for bankruptcy.
Khara has since acquired the Gainax trademark and is working to resolve IP issues to support creators and authors. Notable Gainax titles include “Nadia: The Secret of Blue Water,” “Gunbuster,” and “Gurren Lagann.”
