Anime studio Production I.G. has recently announced the cancellation of a production contract due to payment default. Their work on the project has already cost them 144,358,000 yen (around $1.8 million) as of June 30, 2012. Aside from cutting losses, the studio hopes to recover such a massive loss.
Production I.G.’s parent company, IG Port, has already filed a warning on the potential effect of the non payment to the company’s profitability with the JASDAQ securities exchange.
High profile work in Production I.G.’s immediate pipeline include the fall anime based on Robotics;Notes and Mass Effect, but the announcements don’t point to either project as being affected by the contract default in question.
Production I.G. is famous for their work on various anime TV series, OVAs, and theatrical films. Over the past decade, the studio has also ventured into the videogame industry by providing animated cut scenes, video game design, and development.