Last week, we reported that Index Corporation, owner of the video game brand Atlus, will be going through a streamlined version of bankruptcy called “Rehabilitation.” Today, we’ve received a number of new updates as Index continues to move forward.

First and foremost, Index’s application for Rehabilitation has been accepted by the Tokyo district court. The court has given the holdings company four months to carry out the proceedings, which will include searching for a sponsor for business transfers. Investment firm GCA Savvian has been appointed as the financial adviser for the search.

So far, a number of names have been thrown out as potential sponsors. Engadget Japan believes that it could come down to publishers Sega, Marvelous AQL, and GungHo, as well as social gaming companies GREE and DeNA. Remember, nothing has been confirmed; this is just speculation.

In addition to all this news, Index has come out with a statement that the Atlus brand will continue with its current schedule. This means that games such as Shin Megami Tensei IV, Dragon’s Crown, and Etrian Odyssey Untold: The Millennium Girl will continue to be developed, localized, and distributed. It has also been confirmed that Index has been delisted from JASDAQ, a stock market run by the Osaka Securities Exchange that, though it has no affiliation with it, has similar trading systems to that of our NASDAQ market.

Thanks to Will Whitehurst for translating.

Sources: 1, 2