Square Enix has announced the cancellation of several projects in development, resulting in a loss of ¥22.1 billion (€131.1 million) for the current fiscal year.
The news follows an extraordinary loss notice issued to investors, which said the decision to cancel those titles (although it did not specify which ones) was made in March 2024.
The decision is part of president Takashi Kiru’s plan to improve the company’s product catalog, “with the intention of being more selective and targeted in the management of development resources.”
Last November, Kiru explained during a question-and-answer session with investors that the company needed to diversify its release catalog, also focusing on releasing fewer but higher-quality games.
“Given that we have strong IPs like the Dragon Quest or Final Fantasy franchises, I think we tend to over-rely on certain types of gameplay or genres. Meanwhile, consumer tastes in the video game market have changed, and consumers enjoy content from a variety of genres.
“The market is increasingly polarized between blockbusters and indie titles, but I think we’ve developed a lot of games that fall in between. I want the distinction to be clearer in the future.”
The Japanese company has released three titles this year: Final Fantasy VII Rebirth, Foamstars and, just a few days ago, SaGa: Emerald Beyond. Visions of Mana is scheduled to launch in 2024 (early summer).
