Mobile game maker Index Corp. said it filed Thursday for bankruptcy protection with the Tokyo District Court with debts of around ¥24.5 billion.
Established in September 1995, Index was listed on the Osaka Securities Exchange's Jasdaq market in March 2001. It has been financially strapped since its creditor, Incubator Bank of Japan, went bankrupt in 2010.
Earlier this month, the Securities and Exchange Surveillance Commission raided the company's Tokyo headquarters, suspecting it inflated sales for the year through last August.