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Square Enix announced that the company is expecting extraordinary losses during the fiscal year ended in March 2024 for an approximated total of 22.1 billion yen (or over $140 million.) The company described these as “content abandonment losses,” however it didn’t give any details on the content itself.
The 22.1 billion yen (~$140 million) losses come as result of Square Enix making the decision of being more selective in the allocation of its development resources for HD games, these being console and PC titles. In addition, the final number corresponding to these extraordinary losses may differ. The announcement came ahead of the company’s upcoming financial report for the entirety of the fiscal year ended in 2024 (which corresponds from Q2 2023 to Q1 2024.)
Square Enix’s latest financial report appeared in February 2024 and it went over the 9-month period between April-December 2023. In it, the company described an increase in sales of its various new titles, but a reduction of profits compared to the previous fiscal year ended in March 2023 (corresponding to Q2 2022 through Q1 2023.)
Some of the last Square Enix releases for the fiscal year ended in March 2024 include Final Fantasy VII: Ever Crisis, Foamstars, and Final Fantasy VII Rebirth. Meanwhile, The Rising Tide DLC for Final Fantasy XVI is the first main release of the company corresponding to the new fiscal year started in April 2024, followed by SaGa: Emerald Beyond.
