Square-Enix Profit Forecast Reduced, Slow Sales of “Unnamed HD Console Game” Blamed
Final Fantasy developer reduces projected profit to one-third of original estimate.
Ah, Square-Enix. The company that’s done so many things wrong in the past few years you’d think they were trying out for the Bush Administration. Just recently though, ahead of their earnings forecast for this ongoing fiscal year, the company announced a couple of revisions. Nothing too big really. It only reduces projected profits for the full fiscal year from 9 billion yen ($113 million) to 3.5 billion yen ($44 million). No biggie.
Yes, you read that right. Square-Enix stands to gain only one-third of what it initially projected in profits. One of the reasons is a 1.1 billion yen ($13.8 million) foreign exchange loss that occurred in the first half, with currency exchange rates in relation to overseas assets. We’re guessing the numbers didn’t add up on one side or the other. Slow sales of arcade machines in Japan and delays in the launch of social gaming services are other cited causes.
However, even more interestingly, slow sales of a “major HD console game” are also the cause. Which game? As of yet, no one knows. Either way, given the direction of the company, it’s no surprise that whatever they’re doing wrong is reflecting on their profits.