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Square Enix Reports "Extraordinary Loss" - President Resigns

This sparse document (Adobe Acrobat format) announces the resignation of Yoichi Wada from his post as president of Square Enix. This follows the revelation that the Japanese publisher anticipates an "extraordinary loss" in its next financial reporting noted in a statement (Adobe Acrobat format) with revised financial forecasts. VG247 summarizes the bad news from the revision, noting that this includes lowering the company's projected sales slightly, but involves a giant increase in losses, saying the company's previously projected 3.5 billion net income loss is now anticipated to be closer to 13 billion ($138 million USD). Word is the revision is due to slow sales of major console titles, a sluggish arcade market, and the addition of approximately 10 billion in restructuring efforts, saying: "In view of the rapidly changing environment of the game businesses, the Company has decided to implement major reforms and restructuring in its development policy, organizational structure, some business models, and others."

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52. Re: Square Enix Reports Mar 26, 2013, 16:20 Verno
 
Flatline wrote on Mar 26, 2013, 16:13:
My friend has been playing the newest Final Fantasy MMO now for like 18 months without actually paying for it while they tried to "fix" it, and it still is mediocre. The JRPG genre is utterly stagnant and has had no meaningful developments in easily the last 10 years or so, and in that time the mainstream market has moved on from the cookie-cutter JRPG where mindless grinding and the story are separated by plexiglass, where the plot anyway is that you're some spunky misunderstood 13 year old kid who goes on to save the world when an entire army of trained professional adults could never do it. Along the way you assemble a team of kooky-yet-grim companions who tell you that you can do it and they believe in you.

Hey now, JRPGs aren't all like Final Fantasy (Xenoblade Chronicles, The Last Story and so on all defy many JRPG conventions) and millions of people still like them. Some Japanese companies are evolving too, From Software is a great example of that. Square isn't without redemption here, they just need to adapt to market conditions instead of sitting stagnant for years at a time.

So many of their products languish in development hell and they never have spare teams to devote to any new trends or ideas. They really need oversight and some direction more than anything else, their games have been changing enough over the years as it is, I think if anything they're getting too far away from what people like about them.

This comment was edited on Mar 26, 2013, 16:26.
 
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