Square Enix Reports ¥1.6 Billion in Extraordinary Loss, Final Fantasy X/X-2 HD Remaster Still Releasing in 2013
Square Enix has brought out their financials from the first quarter of the fiscal year, revealing that they posted net sales of ¥24 billion (about $245.3 million), which is down from ¥24.9 billion during the same time frame last year. For net loss, that was at ¥493 million (about $5 million), much better than the ¥2 billion (about $21.1 million) seen last year.
Looking at the extraordinary loss, it was ¥1.6 billion (about $16.2 million), with the company offering up the following explanation for this loss:
In response to the latest environmental changes in the game industry, the Company has implemented a change in its development policy, and conducted a comprehensive review on work-in-progress game titles for the three-month period ended June 30, 2013. As a result, the Company has decided to book a loss on evaluation of content (approximately ¥1.6 billion) as an extraordinary loss.
While the new releases side of things for Square Enix was whisper quiet during the quarter, they did call attention to Sengoku IXA, Kaku-San-Sei Million Arthur, and Dragon Quest X as good performers.
As well, they recapped their upcoming release schedule, showing that Final Fantasy XIV: A Realm Reborn is out August 27th on PS3 and 2014 on PS4, Kingdom Hearts HD 1.5 Remix is out September 10th/13th, the Final Fantasy X/X-2 HD Remaster is still expected in 2013, Lightning Returns: Final Fantasy XIII releases February 11th/14th, 2014, and Thief launches in 2014.