As part of its continued restructuring efforts, Capcom has announced the creation of a wholly-owned subsidiary named Global Studio. The new entity will be headed by Atsushi Inaba, the producer of Viewtiful Joe and Steel Battalion. The Osaka-based development studio will employ 64 staffers and have a capitalization of 90 million yen ($852,192 US). In order to increase its profitability, Capcom is reorganising its entire development operations. The new of Global Studio's creation comes off the heels of last week's reports regarding the closure of the Tokyo-based sixth production team, the internal development studio in Nagoy and the in-house PC development division.