Japanese company Jaleco Holdings, owners of old-school game developer/publisher Jaleco, is getting out of the gaming business. Jaleco has been in the gaming biz since the early 1980s, starting out in arcade games and moving into the home console market. It made Bases Loaded on the NES!
Modern gaming, however, has proved too much for Jaleco Holdings. The company announced that it will sell its gaming assets to Game Yarou for the equivalent of one cent, but Game Yarou will take on more than 7 million dollars of Jaleco's 17.68 million dollar debt.
In a press release, Jaleco Holdings officials said the company's departure is because of "increasing competition in recent years in the video game market."
"The risk factors for our profitability will be removed after withdrawing from the game industry," said a spokesperson. So pour a little Sapporo off the top for your dead gaming homie and fire up the NES to rock some Bases Loaded.