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Square Enix has posted dire revisions to financial projections previously posted in early February. The new figures reflect an “extraordinary loss” sustained to Square Enix-owned properties hit hard by March's earthquake and tsunami. In addition to February's projected ¥1 billion ($12.4 million) profit turning to a loss of ¥12 billion ($148 million), the company has announced the cancellation of development on projects as yet unnamed.
However, consumers without a financial stake in the company's futures may also be affected by the as-yet-unspecified cancellations, said to result from a “tightened selection standard regarding title lineup,” with the aim of “strengthen[ing] the revenue base of the Company’s digital entertainment segment” but a more immediate prediction of ¥4.5 billion ($55.7 million) in lost profits.
Above: Don't worry, you're unlikely to lose FFXIV Online (phew, right?)
A company with as diverse a range as Square Enix is hardly likely to be canning, say, Final Fantasy or the new Tomb Raider, but nevertheless it remains to be seen exactly what projects the company is forced to forsake to help recover from such an unusually – and suddenly – dire year.
[Source: Square Enix]
May 12, 2011
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