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I'm still surprised at how few Japanese publishers have closed this gen considering global economic meltdown and what's been going down in the western development communities. By my count it's just two minor ones, Telent (who was already reduced to making cellphone/porn games) and Seta (who's last big project was subcontracting for Project Sylpheed). Actually, more JP publishers have gotten into gaming than out of it this generation.

Of course, there have also been a lot of notable JP publisher mergers (Square Enix, Namco Bandai, Takara Tomy, Sega Sammy, Koei Tecmo) and a few buyouts (Taito, D3P, Jaleco) too.