Square Enix Really Is Losing A Lot Of Money

In a recently translated report of Square Enix's most recent presentation to investors and shareholders, they were forced to apologize for their "poor performance," which in this case is to the tune of thirteen billion yen.

(That's a little over $131 million.)

We've been aware for a week or two now that Square was hit hard by recent underperforming titles, but this clarifies where things have gone wrong. Things have gone wrong basically everywhere, save for social games which have taken off in Korea, though they don't seem to have a future in coming to America. This has led to them "disposing of content" around the world, which translates to canceling a few projects. Those cancellations will cost them ten billion yen.

As expected, these losses were the cause of the departure of the former President of the company, Yoichi Wada, who- I am not making this up- declared in the report that "the huge loss was like a voice from the heavens telling me it's time to move on." The emphasis was theirs.

Things aren't looking good at all, but they haven't been for a while. Hopefully Square Enix will get to work putting out games we actually want instead of making fans translate for them.

This is as good a time as any to mention that as of today, it has been exactly six years, eleven months since Final Fantasy Versus XIII was announced. Just saying.