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Square Enix has “Expected Extraordinary Losses,” Yoichi Wada resigns

26 Mar 2013  by   Paul Younger
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square enix logo

You wouldn’t think it’s been tough for Square Enix, Tomb Raider was well received by the press and gamers but the latest financial forecasts tell a very different story.

With their latest financials headed with the words “Expected Extraordinary Loss”, you know it must be tough times at Square, and to top it off, president¬†Yoichi Wada has stepped down from his role as president.

The problems have been attributed to “slow sales of major console game titles in North American and European markets” and “sluggish performance of its arcade machine business”. Due to the financial projection woes Square will be getting their house in order with what they call “major reforms” and restructuring of the company, development policy and business models.

Square’s current director Yosuke Matsuda will now step into¬†Wada’s role moving forward.

If you look at the sales figures for their main releases, they have not performed badly, but they have failed to meet Square’s targets (see full report).

square financials

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  1. martymart

    The problem with SE is that they keep releasing garbage like FFXIV and FF: Dimensions (an iOS app for an insanely exorbitant price). You can’t release mediocre games under a high-profile license forever and expect that license to stay high-profile.

    March 26, 2013 at 5:49 pm

  2. Mightymax

    They went from being my favorite video game company (in the 90′s and early 2000′s) to a company that I completely overlook.

    March 26, 2013 at 9:05 pm

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