Today, Microsoft announced that it will not be appearing at either Gamescom or the Tokyo Game Show. Instead, it will rely on its partners and, in Japan's case, its own events.
In an interview with Famitsu, Microsoft stated that it was not abandoning Japan and is planning end of the year promotions.
Microsoft did say it recognizes Tokyo Game Show's importance, but it's hard to say that the prescence of Microsoft, a company that's always struggled in Japan, will be missed. However, its prescence at Gamescom will definitely go noticed. Ditto for Nintendo, who is also sitting out this year's Gamescom.
マイクロソフトがGamescom 2012およびTGS 2012への出展を見送り [Famitsu]