THQ Ceases Japanese Publishing February 29th

The troubled publisher of games like Saints Row: The Third, UFC Undisputed 3, and SpongeBob SquarePants: Operation Krabby Patty will be closing its Japanese publishing division at the end of this month. This confirms rumors previously reported by Kotaku Australia.

With CEOs taking paycuts and rumors of the publisher completely folding up after releasing its planned 2013 slate of games, it's no surprise that international offices are feeling the pinch as well.

Caught in the crossfire? Valhalla Studios, a development house started by Tomonobu Itagaki and others of Team Ninja heritage who are currently developing Devil's Third for THQ. We'll update with more once information comes to light.

[Source]