Square Enix, the company behind last year’s Final Fantasy XVI and this year’s Final Fantasy VII Rebirth, has apparently canceled some in-development games, which has resulted in some big losses. As for why, the company plans to be more selective about its plans to pursue.
This news comes from a release Regarding Square Enix’s holdings, Joe says the company is carrying a loss of 22.1 billion yen, or about $140 million, on its financial books for the fiscal year that ended in March.
“In a meeting convened on March 27, 2024, the Board of Directors of Square Enix Holdings reviewed the Group’s approach to High Definition (HD) development, in light of the myriad changes in the environment surrounding the Group. Voted to. games with the intention of focusing more selective and development resources,” the release read. “As a result of closer examination, the company expects to recognize approximately ¥22.1 billion in material abandonment losses on its books for the fiscal year ending March 2024.”
While potentially canceled games may sound like doom and gloom, it looks like Square Enix is ramping up its development focus to make sure its released games are hits or at least, Be financially successful for the company. After all, it looks like about $140 million worth of games were canceled in development and it’s unlikely we’ll ever find out what they were.
The release follows a big splash with Final Fantasy VII Rebirth, which Square Enix released in February. In the rest of 2024, Square Enix is releasing Final Fantasy XIV: Dawntrail, the new expansion for the MMO that will begin a new story for the long-running game in July.
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