Square Enix Profits Plummet
Squared Enix is in a bit of [shal]financial trouble[/shal] due to lower than expected earnings, as well as some insight as to how little gaming influence they have in territories outside of Japan.
As revealed in their financial earnings ending March 31, [shal]Square Enix[/shal]’s net income fell from 9,196 Million Yen in fiscal 2007 to 6,333 Million Yen in fiscal 2008, a 31% drop. [shal]Japan[/shal] was responsible for 85% of their gross totals in 2008, which is only a small drop from the year prior.
Disappointing sales for the majority of their Nintendo DS titles have been the main culprit, but Square Enix has also put out a surprisingly small amount of home console titles, which definitely had a notable impact on their income. If the company can revitalize their software lineup outside of just [shal]Final Fantasy XIII[/shal], 2009 should look a lot better.
Their aggressive expansion into the Western gaming market by setting up shop in LA, as well as purchasing Eidos Interactive, should have a positive impact on their income over the next few years.