Japanese mobile game developer Gumi is offering buyouts to employees and selling assets related to two game titles to recover from a forecast JPY400 million ($3.4 million) loss for the 12 months ending 30 April.

The company, that had earlier forecast a JPY1.3 billion profit, is expecting around 100 of its 900 employees to take up the offer to leave the company on April 30.

Gumi made its debut on the Tokyo Stock Exchange’s main board in a JPY45 billion ($377 million) IPO in December 2014, one of Japan’s biggest last year.

Earlier this month it was reported that the company’s South Korean operation was being investigated for embezzlement.

While Gumi has signed deals with video game developer Sega and messaging app Line, its competitor DeNA recently signed a deal with Nintendo to develop and operate new game apps for smart devices.