Inforest, publisher of the women's fashion magazine "Koakuma Ageha" and other titles, ceased operations on April 15th due to worsening cash flow and entrusted an investigation into its receivables and payables to a lawyer.

Inforest was established in 2002 when part of the magazine publishing division of Eichi Publishing was spun off. It published fashion/beauty magazines such as "Koakuma Ageha," "nuts," and "I Love Mama," men's fashion magazines such as "Samurai Magazine," as well as puzzle- and computer-related magazines, books, and mook magazines. According to Teikoku Databank, in the fiscal year ending March 2008, when circulation of "Koakuma Ageha" rose to 300,000 copies, the company recorded annual sales of approximately 5.945 billion yen, and in the fiscal year ending March 2009, when it launched its mail-order business, it recorded annual sales of approximately 7.496 billion yen.

However, annual sales fell due to sluggish magazine sales and a decrease in advertising revenue, and during the same period the parent company was changed and, despite efforts to improve management efficiency through restructuring, the decline in sales continued, with annual sales falling to approximately 4.379 billion yen in the fiscal year ending March 2012. At this point, the company's cash flow reached its limit, leading to the current situation. The amount of debt is approximately 3 billion yen.

The company says it will consider selling content such as publications in the future.