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Square Enix forecasts 'extraordinary loss' for year ending March 31


Square-Enix has revised its financial forecast for the year-ended March 31st, with the company now expecting an 'extraordinary loss.

According to the new report, "The Company forecasts that actual business results from its Digital Entertainment Segment to substantially fall below its plan primarily due to slow sales of major console game titles in North American and European markets.

"The Company is also experiencing sluggish performance of its arcade machine business. In addition to these factors, the Company expects to incur extraordinary loss about loss from restructuring in the settlement of the account for its fiscal year ending March 31, 2013.

In view of the rapidly changing environment of the game businesses, Square has decided to implement major reforms and restructuring in its development policy, organizational structure, some business models, and other areas.

The Company expects to incur loss of approximately 10 billion Yen from such restructuring efforts to be recognized as extraordinary loss from restructuring in the settlement of the account for its fiscal year ending March 31, 2013.

It seems that it will take more than Tomb Raider to turn around this publishers fortunes.

Edited On 26 Mar, 2013

Comments
( 11 )
troublemaker's avatar
troublemaker 4 years ago
It seems that the apparent awesomeness that was tomb raider couldn't cure the publisher after the pretty lackluster Hitman: Absolution. Fingers crossed they are alright though. They are one of the few customer-centric publishers left.
Anonymous user's avatar
CHRIS 4 years ago
well perhaps if they'd taken an interest in games like the reinvigoration of the tomb raider franchise or new IPs sooner instead of making extensions to a final fantasy game no'one cares about things might have been different. They could probably recoup that money by remaking ff7 which they haven't bothered doing, despite the enormous fan outcry for it. Squaresoft had a golden age of games as did Enix, during the playstation era, soon as they merged it all went to shit.
Johno Muller's avatar
Johno Muller 4 years ago
I think it was probably Sreeping Dawgs that started the problem, the game was fantastic but unloved by the masses for not being GTA
DynamiteWhyte's avatar
DynamiteWhyte 4 years ago
The reason they won't release FF7 is because once they do, it's basically admitting that they can't outdo it and they'd be well enough closing the franchise. Whoever buys it will be buying it for the 100+ hours of gameplay, and that could take away from any future FF game.
Pyroloveridge's avatar
Pyroloveridge 4 years ago
yup FF7 is a pipe dream, it not going to happen. Do really want it to though
0000000000's avatar
0000000000 4 years ago
i hope square are ok from this i think they are if anybody can turn it around its square, with what they are capible of and whats already announced i think they will be fine, my all time favourite company!
0000000000's avatar
0000000000 4 years ago
i think they may pull the ff7 remake out the bag, that alone would nearly get them out the crap in my opinion!
Johno Muller's avatar
Johno Muller 4 years ago
FF7 would be a quick way to inject money into the company... but if they did that then there would be no future to the FF franchise. That and not guaranteed sales of the magnitude they need... I wouldn't buy it and I loved the game, HD remakes have burned me too often
Gummy's avatar
Gummy 4 years ago
They'll probably do much better this year. Kingdom Hearts and FFX are still very much loved titles. Expecting them to sell very well.
Anonymous user's avatar
Philip 4 years ago
they may get good sales from kingdom and 10 but they are potentially halving those sales by only having sony releases and not putting them multi-format unless i missed the announcement that they will be going multi now
Anonymous user's avatar
Philip 4 years ago
they may get good sales from kingdom and 10 but they are potentially halving those sales by only having sony releases and not putting them multi-format unless i missed the announcement that they will be going multi now

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