Tecmo Stock Takes 10% Hit After Itagaki Departure

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Within days of the sudden resignation of Team Ninja lead and Ninja Gaiden II (360) director Tomonobu Itagaki, shares of parent company Tecmo have tumbled more than ten percent in value.

According to GameSpot, Tecmo's shares were trading at 1,102 yen, or roughly $10.50, when the Tokyo Stock Exchange closed on Tuesday. Reports of Itagaki's departure surfaced the next morning, leading share prices to drop to 982 yen, or about $9.36, by the market's close on Wednesday.

Itagaki announced his resignation just before the launch of Ninja Gaiden II, also stating that he had filed a lawsuit against Tecmo over unpaid bonuses and "significant emotional distress" caused by company president Yoshimi Yasuda. The director claimed damages amounting to roughly $1.4M.

"I regret the circumstances that have forced me to leave Tecmo, where I had worked for so many years, and I regret the disappointment this will cause my fans," Itagaki said in a statement distributed Tuesday.

Tecmo has since assured fans that flagship franchises formerly helmed by Itagaki, Ninja Gaiden and the 3D fighter series Dead or Alive, will continue without Team Ninja's notorious director.

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From The Chatty
  • reply
    June 6, 2008 5:24 PM

    Anybody else wonder if Itagaki is going to go balls out and do a porno fighting game with lots of gore and boobs and ninja masks and girls tearing off each others clothing and really damanding boss battles involving pleasuring the clitoris while being attacked by tiny penii sub-boss enemies.

    • reply
      June 6, 2008 5:56 PM

      LMFAO!

    • reply
      June 6, 2008 8:25 PM

      Itagaki-san? Is that you? When did you get a Shack account? What's with the nick? :-O

    • reply
      June 7, 2008 1:46 PM

      Boss level 1 involves molesting a female co worker whilst fending away waves of lawyers.

    • reply
      June 7, 2008 3:11 PM

      Sounds like a children's game to me.

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