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Square Enix's "Extraordinary" Losses

Apparently extraordinary times can lead to "extraordinary" losses, as this is what Develop says Square Enix is reporting in their financial results for their fiscal year ending March 31st. Here's word on the losses and their fallout:

Square Enix has posted an expected "extraordinary" net loss of £88m for the year ending March 31st.

The anticipated financial results come as the publisher reveals that net sales actually rose more than 15 per cent year-on-year to £946 million.

Operating income however fell to £39 million, while recurring income more than halved to £28 million.

In an effort to combat falling revenues, the publisher said it would be changing its development policy, as well as redesigning some of its business models and some organisational reforms after its major titles had underperformed in North America and Europe.

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27 Replies. 2 pages. Viewing page 1.
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27. Re: Square Enix's May 14, 2013, 17:18 sauron
 
ViRGE wrote on May 13, 2013, 14:36:
Cram wrote on May 13, 2013, 14:15:
Jerykk wrote on May 13, 2013, 12:27:
Step 2: Cancel all Final Fantasy games.

Curious to see Final Fantasy XV's reveal at E3. Will I laugh, or cry?
You'll laugh until you'll cry.

In all seriousness though, as much as I hate to berate FF, between 13 and 14 Square seems to have gone completely off track. And I don't think they really understand why that is.

Don't know about 13, but 14 was awful. Even the diehard FFXI fans won't play it. Ridiculous hardware requirements aside, the gameplay is really, really, really out of date.

It's like the 2013 version of Everquest or FFXI - they haven't learned a single thing from other MMO titles in the lat decade.
 
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Kittens!
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26. Re: Square Enix's May 14, 2013, 09:40 MindStalker3
 
http://www.hd.square-enix.com/eng/ir/library/financial.html

I don't know, it almost looks like they are hiding money to me. Their operating income fell by as much as their net sales went up. Shuffling money around and calling it a loss. Common business practice.
 
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25. Re: Square Enix's May 13, 2013, 21:46 Prez
 
JoeNapalm wrote on May 13, 2013, 16:34:
Deus Ex and Sleeping Dogs both need sequels.

Get your @#$% together, Square Enix!



This. 1000 times this.
 
Avatar 17185
 
“The greatness of a nation and its moral progress can be judged by the way its animals are treated.”
- Mahatma Gandhi
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24. Re: Square Enix's May 13, 2013, 19:07 Acleacius
 
TurdFergasun wrote on May 13, 2013, 16:32:
the bank of canada disagrees(crown owned financial regulatory body) with you. literally: bank of canada mandate:

WHEREAS it is desirable to establish a central bank in Canada to regulate credit and currency in the best interests of the economic life of the nation, to control and protect the external value of the national monetary unit and to mitigate by its influence fluctuations in the general level of production, trade, prices and employment, so far as may be possible within the scope of monetary action, and generally to promote the economic and financial welfare of Canada.
Guess my info is out of date?
Canadian securities regulation
Canadian securities regulation is managed through laws and agencies established by Canada's 13 provincial and territorial governments. Each province and territory has a securities commission or equivalent authority and its own piece of provincial or territorial legislation.

Unlike any other major federation, Canada does not have a securities regulatory authority at the federal government level. Provincial governments began to establish regulatory agencies in 1912 (in Manitoba), and the Privy Council decided in Lymburn and Mayland, [1932] A.C. 318 that such legislation is authorized under the provincial property and civil rights power.

Notwithstanding the lack of a federal regulator, the majority of provincial security commissions operate under a passport system, so that the approval of one commission essentially allows for registration in another province. However, concerns with the system remain. For example, Ontario, Canada’s largest capital market, does not participate in the Passport regime.
 
The people can always be brought to the bidding of the leaders.That is easy.All you have to do is tell them they are being attacked and denounce the pacifists for lack of patriotism and exposing the country to danger.It works the same way in any country.
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23. Re: Square Enix's May 13, 2013, 18:44 Dr. D. Schreber
 
Kobalt wrote on May 13, 2013, 17:45:
Is that what people really want?

Dear god, yes.
 
Avatar 51686
 
NOT THE BEES! NOT THE BEES THEY'RE IN MY EYES AARRGRHGHGGAFHGHFGHFG!
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22. Re: Square Enix's May 13, 2013, 17:45 Kobalt
 
I give square as much shit as the next guy, but I have to respect them for not doing a ff7 remake. The only way to do it justice is to pretty put as much effort as a whole new big budget game(or make it a vita game and make everyone outside of japan rage and give sony a uncontrollable erection). Instead of getting a new game they would have to spend years remaking a old one. Is that what people really want?

Maybe I'm the crazy one that would rather play a new game rather then a sequel/game I played years ago. Never got the same people that complain about sequels all day will beg for remakes of old games.
 
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21. Re: Square Enix's May 13, 2013, 16:42 Cram
 
That mythical FFVII full remake they refuse to make would haul in millions if not tens of millions of unit sales globally. I personally do NOT want an FFVII remake, I do not think they could do the game justice, but such a game could potentially be a system seller. Just announcing such a game would probably up their stock price and reinvigorate the company in various ways.

I wonder if that rumor that they've renamed Versus XIII to Final Fantasy XV is true. The game in the videos looked pretty good, but there have got be a lot of bad reasons why that game basically went vaporware.

This comment was edited on May 13, 2013, 16:48.
 
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20. Re: Square Enix's May 13, 2013, 16:34 JoeNapalm
 

Deus Ex and Sleeping Dogs both need sequels.

Get your @#$% together, Square Enix!


-Jn-
Ifriti Sophist
 
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19. Re: Square Enix's May 13, 2013, 16:32 TurdFergasun
 
Acleacius wrote on May 13, 2013, 12:20:

Canada is one of the, if not the only nation without a national financial securities regulatory system and it might not even matter. In the US we had one of the strongest corporate financial regulation systems for about 40 years. At least till 1980 and now it's been captured by corporate malicious malfeasants.
.

mostly off topic:

the bank of canada disagrees(crown owned financial regulatory body) with you. literally: bank of canada mandate:

WHEREAS it is desirable to establish a central bank in Canada to regulate credit and currency in the best interests of the economic life of the nation, to control and protect the external value of the national monetary unit and to mitigate by its influence fluctuations in the general level of production, trade, prices and employment, so far as may be possible within the scope of monetary action, and generally to promote the economic and financial welfare of Canada.
 
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18. Re: Square Enix's May 13, 2013, 15:38 Verno
 
FF is actually quite profitable for the company overall, it's just their inability to manage the projects that is hampering them. Also FF12 owned and there is no reason to give up on a great name brand that just needs fresh management and some new direction.  
Avatar 51617
 
Playing: The Last of Us Remastered
Watching: Kitchen Nightmares, Coherence, The Rover
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17. Re: Square Enix's May 13, 2013, 15:10 NegaDeath
 
Forget FF for awhile its not doing them any good. One is already in development hell and the other was so bad they had to develop it twice. They have so many series on ice that fans are begging for new releases on that they could easily turn a profit.  
Avatar 57352
 
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16. Re: Square Enix's May 13, 2013, 14:53 Creston
 
Jerykk wrote on May 13, 2013, 12:27:
Step 1: Set realistic sales expectations and budget appropriately.
Step 2: Cancel all Final Fantasy games. Make another Final Fantasy game like all the actual FF fans want, rather than the crap that was FF13.
Step 3: Sell 8 million copies of said Final Fantasy game.
Step 4: Profit!

It's not that hard, Square Enix...

Creston
 
Avatar 15604
 
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15. Re: Square Enix's May 13, 2013, 14:36 ViRGE
 
Cram wrote on May 13, 2013, 14:15:
Jerykk wrote on May 13, 2013, 12:27:
Step 2: Cancel all Final Fantasy games.

Curious to see Final Fantasy XV's reveal at E3. Will I laugh, or cry?
You'll laugh until you'll cry.

In all seriousness though, as much as I hate to berate FF, between 13 and 14 Square seems to have gone completely off track. And I don't think they really understand why that is.
 
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14. Re: Square Enix's May 13, 2013, 14:15 Cram
 
Jerykk wrote on May 13, 2013, 12:27:
Step 2: Cancel all Final Fantasy games.

Curious to see Final Fantasy XV's reveal at E3. Will I laugh, or cry?
 
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13. Re: Square Enix's May 13, 2013, 14:14 nin
 
Slashman wrote on May 13, 2013, 12:03:
Sleeping Dogs really was a great game. I hope it gets a sequel...but it looks really iffy at this point.

I kinda doubt we'll get one, which is a shame...

 
http://www.nin.com/pub/tension/
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12. Re: Square Enix's May 13, 2013, 12:27 Jerykk
 
Step 1: Set realistic sales expectations and budget appropriately.
Step 2: Cancel all Final Fantasy games.
Step 3: Profit!
 
Avatar 20715
 
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11. Re: Square Enix's May 13, 2013, 12:20 Acleacius
 
At the very least this is corporate misfeasance masquerading as "underperforming products" at the worst corporate financial fraud. There's no real reasonable explanation for what they say verses reality.

Canada is one of the, if not the only nation without a national financial securities regulatory system and it might not even matter. In the US we had one of the strongest corporate financial regulation systems for about 40 years. At least till 1980 and now it's been captured by corporate malicious malfeasants.

Here's hoping Canada can stop whatever these Square Enix corporate bosses are doing before they destroy the company.
 
The people can always be brought to the bidding of the leaders.That is easy.All you have to do is tell them they are being attacked and denounce the pacifists for lack of patriotism and exposing the country to danger.It works the same way in any country.
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10. Re: Square Enix's May 13, 2013, 12:03 Slashman
 
Sleeping Dogs really was a great game. I hope it gets a sequel...but it looks really iffy at this point.  
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9. Re: Square Enix's May 13, 2013, 11:27 1badmf
 
but it'll probably be the devs who pay the price. it'll be the 3rd coming before managers ever blame themselves.  
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8. Re: Square Enix's May 13, 2013, 10:44 nin
 
i am a bit surprised sleeping dogs only sold 1.75 million units. Maybe it wasnt western enough for the west?

I was really surprised it didn't do better. It was a great game...


If your entire business is built on requiring titles to sell 6+ million copies, then:

A) You are a fucking bunch of idiots.
B) You are going to fail.

Pretty much that, exactly. Someone needs to be let go, and I'm not talking about the devs...

 
http://www.nin.com/pub/tension/
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