December 21^st, 2002 (12:00am) - Capcom vice president Heiji Oshima went on the offensive today, officially refuting reports suggesting the company was in negotiations with Nintendo for a possible buyout. According to Oshima-san, any such reports are "groundless." Moreover, he affirmed that Capcom is wholly dedicated to retaining its independence. Speculative reports suggesting the buyout began appearing last week in Japan. Most associated stories focus on Capcom’s weakened financial position as a possible factor in the proposed buyout.

While Capcom posted a significant loss earlier this year, Oshima-san said the company’s software business is on track this holiday season. Specifically, he said, "More than 200 games are scheduled for release this holiday season, despite that superfluous supply we’re confident in our lineup and progressing as planned." To illustrate that confidence, Oshima-san revealed that 900,000 copies of Biohazard Zero, the company’s latest horror game for the Nintendo GameCube, have been shipped to retailers worldwide. Released in November, 400,000 copies of Biohazard Zero have been shipped in Japan, with another 500,000 in America. While definitive sales figures for the game remain undisclosed, Oshima-san described sales of Biohazard Zero as "very favorable," and "in like with company expectations." Capcom’s next major release, Devil May Cry 2, is expected to hit retailers in late January 2003. Capcom reportedly plans to ship 700,000 copies of Devil May Cry 2 in America, 600,000 in Japan, and another 350,000 in Europe next spring.