Square-Enix Fiscal Year Results: $134M Net Loss, Plans to Improve Profit

Square-Enix Fiscal Year Results: $134M Net Loss, Plans to Improve Profit - 2013-05-13 14:03:24

Square-Enix has released their results today for the fiscal year ending Mar. 31, 2013, reporting a loss of ¥13.7 billion ($134 million).

 

In March, the Japanese publisher announced a restructuring of their company would result in major loss of profit. A statement released by Square-Enix, however, insinuates the company’s steps to return to profit.

“The business environment surrounding the [Square-Enix] Group is in the midst of major changes, where smart devices such as smartphones and tablet PCs are spreading rapidly, while the console game markets in North America and Europe are increasingly competitive and oligopolistic,” Square-Enix went on to say.

“In light of such environmental changes, the Group is focusing on all efforts on a substantial earnings improvement through driving reforms of business structure in order to establish new revenue base.”

Major titles such as Tomb Raider, Hitman: Absolution and Sleeping Dogs performed weakly in North American and Europe, at least according to a Square-Enix statement released in March. Square-Enix also wants to implement the use of smartphones and tables, as titles such as Final Fantasy Airborne Brigade and Kaku-San-Sei Million Arthur garnered exceptional profit. Dragon Quest X was described by Square-Enix to show “steady performance”.

The Japanese publisher hasn’t seen better days as of late. A series of layoffs occurred at their North American and European locations. Recently appointed president Yosuke Matsuda is currently in the process of restructuring the company by undertaking a full company review. Matsuda's precedessor, Yoichi Wada, will resign this June. 

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