Published on February 6th, 2013 | by Thomas Wakelin0
Square Enix Now “Struggling” To Profit From Console Games- Changing Focus For The Future
Square Enix has been suffering from financial issues for a considerable amount of time now and to add another string to the bow of their enemy it has come to light that the publisher has recorded a 5.7 billion yen (£39.1 million) loss for the nine month period ending 31st December 2012.
This, unfortunately, is despite a rise in sales of 7.4% year-over-year equaling 102.8 billion yen (£705 million). Although Square Enix predicts that it will make profit by the end of the business year it has blamed ”sluggish performance” on arcade machines in Japan as well as console game sales in general.
A statement released from the company states:
“During the nine-month period ended December 31, 2012, the Company has not recovered the operating loss posted in the six-month period ended September 30, 2012, primarily due to the increasingly difficult condition of the world-wide console game market, under which the Group is struggling to achieve a fair expected return on its investment.”
Square Enix also explained how they would change their focus for the future by saying that the company intends to focus on launching full-scale commercial services for major MMO titles to establish a profit base.
Do you believe that Square Enix can reach profit again?