We got word yesterday that Square Enix expects to lose $150 million in their previous fiscal year. The biggest reason cited was a $55 million loss for development cancellations, but now we’re getting a clearer idea of where the rest of it went.
CEO Yoichi Wada blames “weak performance of console game titles” and, no surprise here, the delay in being able to charge for “a key online title.” No doubt point 2 is a reference to the company’s beleaguered new MMO, Final Fantasy XIV. The company has yet to charge players the expected monthly fee as they iron out endemic quality issues.
S-E’s got a plan to turn things around, however. The company is seeking to add 5 additional new and major IPs to its current roster of 6. Right now, the company has Final Fantasy, Dragon Quest, and Kingdom Hearts from its Japanese studios, and Tomb Raider, Deus Ex, and Hitman from its Western houses. The company hopes to add two more to the Japanese side and three more to the Western side.