Xseed Games technically has the rights to release Third Chapter in English. However, the First Chapter, the smallest in the series, was a massive undertaking, consisting of over 1.5 million Japanese characters to be translated, and did not meet Xseed's sales goals.
The company stated unfavorable "large undertaking, low payoff" ratio, if continued, would put them out of business. Xseed teamed up with a third party translating company, Carpe Fulgur, to translate Second Chapter, but Third Chapter's release largely hinges on its success.
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Localization in The Legend of Heroes: Trails in the Sky the 3rd from WikiPediahttps://en.wikipedia.org/wiki/The_Legend_of_Heroes:_Trails_in_the_Sky_the_3rd]
I think here "state" takes two objects a noun phrase "large undertaking, low payoff ratio" and a "that" clause "if continued, would~," and that the implied subject of the "that" clause is "large undertaking and low payoff/ such translation."
And I think ,therefore, the underlined sentence means "The company stated unfavorable 'large undertaking, low payoff' ratio, (that) if it is continued, would put them out of business."
I was wondering if I am right here.
Thank you in advance for your help.