Square Enix expects “extraordinary loss” this fiscal year, CEO steps down

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Square Enix expects “extraordinary loss” this fiscal year, CEO steps down

Post by S7 Sticky on Tue Mar 26, 2013 1:07 pm

and thats on top of EA's CEO stepping down as well


Square Enix have announced the resignation of their CEO, Yoichi Wada, following an earnings forecast that predicts the company will experience “extraordinary loss” this financial year. According to their consolidated results report, the company had expected to make profits of 3.5 billion yen (approx. £24.5 million) before the end of the financial year, this March 31st. That didn’t happen. Instead, Square Enix is now expected to report a loss of 13 billion yen (approx. £91 million).

According to the report, “The Company forecasts that actual business results from its Digital Entertainment Segment substantially fall below its plan primarily due to slow sales of major console game titles in North American and European markets.” Detailed sales breakdowns aren’t available, but while some of the low earnings will be from the Japanese console-only side of the business, no doubt their Western studios, recently responsible for Hitman: Absolution, Sleeping Dogs and Tomb Raider, have also underperformed.

In addition to Wada’s resignation, to be replaced by former company president Yosuke Matsuda, Square Enix are also planning a major restructure in “development policy, organizational structure, some business models, and others.” What the means in real terms – especially for upcoming projects like Eidos Montreal’s Thief – remains to be seen.

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Re: Square Enix expects “extraordinary loss” this fiscal year, CEO steps down

Post by S7 Interseptor on Tue Mar 26, 2013 2:12 pm

I heard TR has sold quite well but they may have expected better It was on top of the UK charts for like 4 weeks, even beating out Gears 4. I think they should get back to making good FF games and NOT just re-releasing HD versions of older games while pushing new crap out the door as fast as they can. IMO they have ruined one of the best and most beloved RPG titles in history.

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Re: Square Enix expects “extraordinary loss” this fiscal year, CEO steps down

Post by Atrum on Tue Mar 26, 2013 2:14 pm

They've really had a problem with Final Fantasy lately. I think they're torn between trying to appeal to the 'new' broader crowd, and making games stick to how they used to be.

I wish they'd just make a solid game like VII, VIII, or IX. Even X was still enjoyable.

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Re: Square Enix expects “extraordinary loss” this fiscal year, CEO steps down

Post by S7 Interseptor on Tue Mar 26, 2013 2:19 pm

I liked X a lot actually. But I don't want an HD remake of it, which is what they are doing right now. Hell that game isn't even that old and it looked great for it's time. Give me new solid games and stop trying to cash in on old glories.

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Re: Square Enix expects “extraordinary loss” this fiscal year, CEO steps down

Post by S7 Interseptor on Tue Mar 26, 2013 3:32 pm

Here is an interesting related article - http://www.joystiq.com/2013/03/26/square-enix-weak-sales-tomb-raider-hitman-absolution/

Square Enix announced a massive restructuring today, which included the dismissal of president Yoichi Wada, but we really hope the company takes a long look in the mirror about its sales projections. Buried within the briefing of the consolidated results forecast, the company had a slide expressing the "weak sales" of three of its games.

These allegedly anemic sales involve three games that will have sold millions of units by the end of the company's fiscal year on March 31. It seriously raises the question: how broken is Square Enix's business if Tomb Raider's expected 3.4 million units sold (not including digital distribution) is considered "weak?"

"Despite the high critical acclaim, [the games listed] failed to meet each target," the briefing notes. "In particular, North America sales force was ineffective, ending up with 2/3 of number of units sold in Europe."

Oddly – beyond this being a clear sign Square Enix North America is being thrown under the bus – this is the second time we've had to scratch our heads about Eidos/Square Enix sales projections. In 2009, the company was disappointed by the sales of Tomb Raider: Underworld, which launched in November and sold 1.5 million copies by the end of 2008. Soon after the publisher did a round of layoffs at Tomb Raider developer Crystal Dynamics.

Not sure what is going on over at Square Enix, but it looks like it's scape goat season.

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Re: Square Enix expects “extraordinary loss” this fiscal year, CEO steps down

Post by Xpert2010 on Tue Mar 26, 2013 4:32 pm

I think they will eventually "HD-ify" Final Fantasies 10, 10-2 and 12 just so Vita and/or PS3 owners will be able to access all Final Fantasy titles on their console, excluding MMO titles. I do wish they would stop trying to stray away from the old, but awesome, final fantasy formula. Not a fan of linear worlds. I want my airship.

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Re: Square Enix expects “extraordinary loss” this fiscal year, CEO steps down

Post by Atrum on Wed Mar 27, 2013 9:55 am

Yup, Airship FTW. And where's the massive, painful questing for chocobo stuff

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Re: Square Enix expects “extraordinary loss” this fiscal year, CEO steps down

Post by Xpert2010 on Wed Mar 27, 2013 11:42 am

AtrumX wrote:Yup, Airship FTW. And where's the massive, painful questing for chocobo stuff

At least those games had side quests you could turn to.
FF7 had Gold Saucer. Getting your final weapons, limit breaks, and materia took some exploration. Optional Bosses.
FF8 had the card game. Optional Guardian Forces that you could obtain/optional Bosses.
FF9 had a card game. Chocobo questing. Optional Bosses.
Oh yeah, these also had world where roam freely.

The recent Final Fantasies really no longer provide any additional fun side quests like these. In short, bring back SquareSoft.

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Re: Square Enix expects “extraordinary loss” this fiscal year, CEO steps down

Post by Atrum on Wed Mar 27, 2013 12:09 pm

We should just start our own game company called SoftSquare and make real FF games again.

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Re: Square Enix expects “extraordinary loss” this fiscal year, CEO steps down

Post by DeadSockPuppet on Wed Mar 27, 2013 12:51 pm

AtrumX wrote:We should just start our own game company called SoftSquare and make real FF games again.

What about SacredSoft, too churchy?

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Re: Square Enix expects “extraordinary loss” this fiscal year, CEO steps down

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