Square Enix Sufferes Financial Losses
May. 4, 2024Square Enix Sufferes Financial Losses
Square Enix, one of the most important companies in the video game industry, revealed that it suffered losses of $140 million due to“content abandonment”when making adjustments to products that were already in progress, and even last-minute cancellations in game design.
The apparent reason is that the company intends to be more selective with its projects in the future.Square Enixhas been one of the publishers with the most releases each year in recent years, including some of the best RPGs in history. Among new versions of its classics, major releases, and promising titles that failed to attract a large audience, they have offered a large number of video games every year.
However, it seems that this is not the focus the new CEO, Takashi Kiryu, who expressed the company should make fewer video games but better concentrate on their quality. Now we have learned about his first actions in this regard, which have cost the company several million dollars.
An Investor release for Square Enix which reports losses worth about $140 million, attributed to the cancellation of several projects that were in development.
Square Enix doesn’t have many projects on the horizon, beyond Kingdom Hearts 4 and the third Final Fantasy VII remake, but some of these titles may correspond to those leaked, such as the possible remake of Final Fantasy IX. Square
With the sales of Final Fantasy VII Rebirth being slightly lower than those of Remake, and Final Fantasy XVI itself failing to meet sales targets, this is a challenging time for the Japanese Publisher.
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