Send News. Want a reply? Read this. More in the FAQ.   News Forum - All Forums - Mobile - PDA - RSS Headlines  RSS Headlines   Twitter  Twitter
Customize
User Settings
Styles:
LAN Parties
Upcoming one-time events:
Nashville, TN 02/27

Regularly scheduled events

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."

Email Digg Facebook Twitter   Share More    


 

  
   Current Headlines
Unity 5 Released
Alien: Isolation The Trigger Released
Shadowrun Online Renamed; Launches Next Month
Steamship Ahoy - Five Nights at Freddy's 3
Shovel Knight: Plague of Shadows Free Expansion Plans
Resident Evil Revelation 2 Split-Screen Co-op Beta
Morning Patches
Morning Crowdfunding Roundup
Morning Interviews
Morning Consolidation
Morning Mobilization
Morning Metaverse
Morning Tech Bits
Morning Safety Dance
Morning Legal Briefs
Game Reviews
Hardware Reviews
etc.
Out of the Blue
Bombshell Details & Trailer
  

 



footer

Blue's News logo