Capcom also released a notice of revision of earnings and dividend forecast. The report explained that although there had been favourable growth in sales of Dead Rising, the Mega Man Battle Chip Stadium arcade game had not performed well.
The dissolution of Clover Studio comes after Capcom pulled themselves out of spiralling losses. In 2003 they announced losses of $163 million and shelved plans for 18 previously scheduled games. However, the company appeared to have bounced back and reported a healthy $7.02 million profit in this year's first quarter.
Capcom added on the end of the press release: "The impact of the dissolution of Clover Studio Co., Ltd. on the financial forecasts, separately announced on the same day, is inclusive as part of Extraordinary Losses amounting to 400 million yen," or approximately $3.5 million.
Earlier this year, reports emerged that Capcom had shut down Studio 8, the developer responsible for the Maximo games. While the publisher declined to comment at the time, it later confirmed the closure of both Studio 8 and its distribution arm, Capcom Eurosoft, in its year-end fiscal results.