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Maximo dev closed down

Capcom's doing alright though.

Capcom has closed down Studio 8, the developer responsible for producing the Maximo titles for PS2.

Studio 8 most recently produced Final Fight Streetwise. Around 20 people have been made redundant as a result of the closure.

Surely it's a money saving exercise on Capcom's part - but the publisher isn't doing too badly as it goes, reporting an increase on annual profits of more than 90 per cent to just over £17 million. Capcom attributed the rise to healthy sales of Resident Evil 4, Monster Hunter 2 and handheld titles Mega Man Network 6 and Phoenix Wright: Ace Attorney.

However, Onimusha: Dawn of Dreams, Without Warning and Beatdown didn't do so well, particularly in the West. In Europe, operating income fell by 89.6 per cent.

According to Capcom's financial report, the games industry has experienced growth during the next-gen console transition. However, "The launch of the advanced and sophisticated game hardware will result in an urgent need for software makers to address the problem of increasing development costs."