Square-Enix CEO Yoichi Wada to Step Down in June

Some interesting industry news trickled in during the wee hours of the morning: Yoichi Wada, the CEO of Square-Enix, will be stepping down from his position at the end of June. His replacement will be the company’s current representative director, Yosuke Matsuda.

The news comes alongside reports of the “extraordinary loss[es]” that Square-Enix suffered in its fiscal year ending March 31, 2013—10 billion yen, or approximately 106 million USD. The company has slashed its consolidated results forecast as a result.

Square-Enix’s troubles appear to be primarily based in the console market: It expected its sales of Sleeping Dogs, Hitman: Absolution, and the new Tomb Raider to hit 1.75 million, 3.6 million, and 3.4 million units respectively. The games’ sales didn’t reach those lofty numbers, and Square-Enix expects to underperform in digital downloads, too.

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The iOS market probably isn’t at the forefront of Square-Enix’s mind right now, but it should be. The company’s high-priced mobile games and occasionally lackluster offerings have damaged consumer confidence, even though Square-Enix has the resources to make a killing with reasonably-priced remakes of its classic titles.

It would be a huge shame for such a distinguished, talented company to go completely under because of some dumb decisions. Maybe the release of Final Fantasy V iOS will mark the start of a sadder, wiser Square-Enix.

(Come on, Final Fantasy VII remake. Light our darkest hour.)

[Square-Enix via OpRainfall]

  • araczynski

    distinguished, yes, talented? not in a dozen years. they’ve going on fumes for years, and milking kids and fans on nostalgia highs for longer. well, ok, that’s probably not fair, doesn’t matter how talented the rank and file are…if the captain steers the ship into an iceberg.

  • Karzay

    Fingers crossed…

  • http://www.facebook.com/artur.szczur Artur Szczur

    Yeah! Give us FF VII pretty pretty please! ;D That’d be AWESOME!

  • curtneedsaride

    Update Chrono Trigger & Secret of Mana on iOS to be universal, release an updated FF V, VI, and VII universal apps, and then create another new series for iOS and Android.

    And stop making apps that require $50-$100 of IAP. You’ll get a couple people to purchase them, but then miss out on all of those who would have initially downloaded the $15 premium non-IAP app.

    I agree with you. Maybe FF V will mark the beginning of better SE digital downloads. I’ll be buying it, and I don’t even have space on a device to play it yet!