Final Fantasy developer, Square Enix, canceled $140 million worth of games and projects after “recognizing extraordinary losses” in a company board meeting. The developer announced these details in a warning statement for investors and adjacent parties on April 30, 2024.
According to Square Enix, the company aims “to revise [its] approach to the development of high-definition (HD) games” and it particularly wants to be “more selective and focused in the allocation of development resources.”
In a close examination with other board members, Square Enix “expects to recognize approximately ¥22.1 billion (which is roughly $140.9 million as of writing) in content abandonment losses on its books for the fiscal year” of March 2024.
This is devastating news for Square Enix and those looking forward to the company’s upcoming games in the future. Unfortunately, there have been no confirmed details about any of the games or projects originally canceled or adjusted per the new development pipeline. Hopefully with Square Enix focusing on fewer games, the company’s status will improve in the next financial year as it aims to be more selective with its resources.
Published: May 1, 2024 12:50 pm