Square 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.

Square Enix Seems To Have Canceled Some Games in Development

The apparent reason is that the company intends to be more selective with its projects in the future. Square Enix has 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.

“The company expects to recognize approximately 22.1 billion yen in losses due to abandoned content for the fiscal year ended in March 2024,” the same news release states, leaving no doubt. Unfortunately, we don’t have much information about which projects have been canceled.

Square Enix Does Not Seem To Be At Its Best

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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