Square Enix warned investors today that its next earnings report will include a financial hit from a series of canceled games.
Square Enix’s board of directors on March 27 voted in favor of a new strategy for core games “with the intention of being more selective and targeted in the allocation of development resources.”
As a result, Square Enix plans to report 22.1 billion yen ($140 million) in losses from content abandonment in the fiscal year ending March 31.
The company said it continues to assess whether the ups and downs will cause it to revise its previously published profit forecast for the year.
Either way, Square Enix plans to introduce its own annual results on May 13.
Among the Square Enix games mentioned in the last financial year are Final Fantasy: Pixel Remaster, Final Fantasy 16, Infinity Strash: Dragon Quest The Adventure of Dai, Star Ocean: The Second Story R, Dragon Quest Monsters: The Dark Prince , Foamstars and Final Fantasy 7 Rebirth.
The company has already confirmed this Final Fantasy 16 did not meet sales expectations at launch, and Niko Partners analyst Daniel Ahmad also claimed that Final Fantasy 7 Rebirth’s sales performance was worse.
Square Enix braces investors for $140 million in losses from canceled games
