According to Masaru Ohnogi, the CEO of Gumi Korea, the company's motto is "First to try. First to fail. First to recover."

Well, it's certainly testing the second part of the phrase with the news that it's going through a restructuring that will see it shutting down some browser games and losing around 100 members of staff.

Bounce back

That's from a current headcount of 900, although the Japanese company previously announced aggressive expansion with new four studios planned in the US and Europe.

The news follows Gumi's floatation on the Tokyo Stock Exchange - under the ticket TYO:3903 - and a predicted $3.5 million operating loss for its FY14-15 period, ending 30 April 2015.

In FY13-14 it generated profits of $11 million.

[source: Reuters]