Tecmo Shares Drop 10%

Following the sudden resignation of Tomonobu Itagaki, head of Team Ninja and father of Ninja Gaiden and Dead or Alive franchises, shares of Tecmo have tumbled more than ten percent in value.

Gamespot reports that Tecmo’s shares were trading at 1,102 yen (approximately $10.5) when the Tokyo Stock Exchange closed on Tuesday. However, after reports of Itagaki’s departure came out the following morning, share prices dropped to 982 yen (about $9.36) by the market’s close on Wednesday.

Itagaki announced his departure on the eve of Ninja Gaiden 2’s launch, noting unpaid bonuses and “significant emotional distress” as the driving reasons. Tecmo has responded, stating that they will continue the aforementioned franchises without Itagaki.