Last year, we learned of the replacement of the president of Square Enix Yosuke Matsuda by Takashi Kiryu after a decade at the helm of the publisher. Even if the latter is young and pleasant during his appearances, notably during the Fan Festivals of Final Fantasy XIV, we must not forget that he is a businessman. Since it has been in place, it has made various changes internally, wishing to favor quality over quantity. At the same time we learned of the disappearance of Tokyo RPG Factory via a merger. It is now a bleak announcement that is making headlines, because Square Enix lost a lot…
In a document addressed to the FASF (Financial Accounting Standards Foundation) published this Tuesday, April 30, 2024, resulting from a decision taken during the meeting of the board of directors on March 27, a loss of 22.1 billion yen, or approximately 131 million euros, is reported for the fiscal year which ended March 31. The reason is the abandonment of content following the review of the approach to HD game development, in the wake of what had already been announced. Given the amount, it seems obvious that at least one project was simply canceled, but no details were given, enough to make players speculate on the Web.
SQUARE ENIX HOLDINGS CO., LTD. expects to recognize extraordinary losses related to abandonment losses associated with its content production account on its books for the fiscal year ending March 2024, as detailed below.
Nature of extraordinary losses
At the meeting held on March 27, 2024, the Board of Directors of SQUARE ENIX HOLDINGS CO., LTD. (the “Company”) has voted, in light of the multiple changes underway in its Group’s environment, in favor of reviewing the Group’s approach to the development of high definition (HD) games with the intention to be more selective and more targeted in the allocation of development resources. Following a thorough review of the Group’s development pipeline undertaken in accordance with this revised approach, The Company expects to record approximately ¥22.1 billion in content abandonment losses on its books for the fiscal year ending March 2024.
Perspective
The Company is carefully reviewing its consolidated guidance for the fiscal year ending March 2024 to assess the potential impact of the above or other factors. If revisions to its forecasts prove necessary, the Company will disclose them as soon as possible.
One of the latest releases from Square Enix, Final Fantasy VII Rebirthis currently sold €60.37 on Amazon.
| Alexandre SAMSON (Omega Law) Editor | ||
| Addicted to Assassin’s Creed and Destiny, big fan of RPGs and passionate about video game experiences in general. Reader of comics (DC) and various mangas (One Piece!). Chemist by training and Whovian at heart. | ||
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