Square Enix plans to build new studios and IP after selling off Tomb Raider and Deus Ex

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The studio is refocusing development efforts after a sizable shake-up

Kingdom Hearts 4
(Image credit: Square Enix)

After shedding much of its Western development presence, Square Enix plans to establish new IP and studios as it realigns its business. 

In its latest financial report, Square Enix briefly outlined plans to "strengthen our IP ecosystem" as a "medium-term" business strategy. In particular, it stressed a move to "cultivate robust IP" as well as the "creation of new IP." 

This plan would be aided by moves to "boost game development capabilities by establishing new studios, [mergers and acquisitions], etc," which suggests Square is looking to create and potentially acquire some additional studios. 

Square revisited the purpose of the deal in its latest report, affirming plans to "better align overseas publishing function with organization in Tokyo." The company also notably doubled down on this divestiture helping to "accelerate launch and monetization of new businesses by moving forward with investments in focus fields" including blockchain, AI, and the cloud. Square's even roughed out ambitions "launch a new NFT brand and IP" on the back of a new blockchain push. 

Square Enix game sales were up last year, mainly thanks to the explosive popularity of Final Fantasy 14: Endwalker. 

Austin Wood
Austin Wood
Senior writer

Austin has been a game journalist for 12 years, having freelanced for the likes of PC Gamer, Eurogamer, IGN, Sports Illustrated, and more while finishing his journalism degree. He's been with GamesRadar+ since 2019. They've yet to realize his position is a cover for his career-spanning Destiny column, and he's kept the ruse going with a lot of news and the occasional feature, all while playing as many roguelikes as possible.