Square Enix Reports ¥5.7 billion in Losses, “Difficult Condition of Global Console Game Market” Blamed

A loss of ¥5.7 billion for nine months ending on December 31st 2012 – the same period in which the company reported profits of more than ¥5 billion – has been reported by Square Enix, despite overall increase of sales.

In a public statement, the company reported that this is “primarily due to the increasingly difficult condition of the world-wide console game market, under which the Group is struggling to achieve a fair expected return on its investment.

“On the other hand, content for other platforms such as PCs, smartphones and SNS such as ‘Sengoku Ixa,’ a browser game, and ‘Final Fantasy Brigade,’ a social networking game for Mobage, are generating an acceptable profit. In addition, newly released game titles, such as ‘Kaku-San-Sei Million Arthur,’ a social networking game released in April, 2012 serving more than 1 million registered users, have been expanding at a satisfactory pace.

“Registered users of Final Fantasy Artniks,’ a social networking game released in November, 2012 for Gree, exceeded 1 million at the end of December, 2012.”

This seems just about in line with the company’s desire to get into more free to play and social games. As of now, a full-year net income of ¥3.5 billion has been projected.

Source: GIBiz