Square Enix Cancels Games and Loses $140m

1 May 2024 at 18:32 in Gaming News with no comments

Square Enix has announced the abandonment of multiple in-development projects, resulting in a $140 million loss for the financial year.

Square Enix Loses $140

What Is Happening to Square Enix?

Square Enix has revealed an expected loss of a “approximately ¥22.1 billion in content abandonment losses” for the fiscal year ended March 2024. That is a loss of roughly $140m as the company looks to refocus their development pipeline.

Square Enix Cancels Games

In a post to investors, CEO Takashi Kiryu spoke of the company’s intention of “being more selective and focused in the allocation of development resources.”

The company has not revealed which games have been canceled, but this follows Kiryu’s statement in February at a financial results briefing that Square Enix needs to diversify its IPs, break into more genres, and not be so reliant on the Final Fantasy and Dragon Quest franchises.

But don’t worry if you are a Final Fantasy fan. Final Fantasy 14: Dawntrail will still be released on July 2. After that, we must wait to see what Square Enix has planned.

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By Daniel Burrows Daniel

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