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Square Enix posts negative financial results but is optimistic about the future

It seems that Square Enix has recently released its latest financial results and it seems that they are not positive at all. Here we bring you all the details offered.

They correspond to the financial results for the fiscal year ending March 31, 2023. This is what was shared:

  • Despite Square Enix’s notable releases such as Octopath Traveler II, Crisis Core Final Fantasy VII Reunion and Live A Live, sales in the digital entertainment sector, which includes console games, MMOs and mobile games, have seen a decline 12.2%, from JPY 279.6 billion to JPY 245.5 billion. The company’s overall net sales have also decreased by approximately 6%, from JPY 365.2 billion to JPY 343.2 billion.
  • However, these falls have not affected the company’s share price, which currently stands at 6,750 JPY, its highest level since November 2022.
  • The reasons behind these declines are attributed to less sales, as they claim that releases like Guardians of the Galaxy, Outriders, and NieR Replicant ver.1.22474487139 were not successful enough. In addition, they point out that they have not released news for Final Fantasy XIV.
  • Despite these challenges, Square Enix is optimistic for the future and expects its next fiscal year to record overall net sales of JPY 360 billion, an increase of almost 5% compared to JPY 343.2 billion this year. They are hopeful that the release of Final Fantasy XVI for PlayStation 5 will contribute to this growth.
  • In their report, Square Enix confirms that they continue to work on technologies such as NFT and blockchain. In addition, they mention that they will continue to seek investments globally and accelerate the development of blockchain-based games.

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