Square Enix President Yoichi Wada Steps Down

Square Enix President Yoichi Wada Steps Down

Square Enix was revising their forecast for this fiscal year and noticed that things weren’t going quite as they had hoped.

Previously, Square Enix had a profits forecast of 3.5 billion yen. Unfortuneatly that number has now gone in opposite direction. By a lot. The estimated loss is 13 billion yen (or $137.9 million).

As a result of this, Square Enix President Yoichi Wada has announced that he will be stepping down as part of major reform and restructuring in the company. This restructoring will cost the company 10 billion yen, which is why their profits are now a loss for this year. This will include a disposal of content and evaluation of other content, each costing 4 billion yen.

Yosuke Matsuda will assume the presidential role while a shareholder meeting in late June decides who will take the helm.

12 thoughts on “Square Enix President Yoichi Wada Steps Down

  1. Awww man Wada was cool as shit but someone has to take the blame for Tanaka’s fuck up.

    1. This is way beyond the initial failings of FFXIV. It has more to do with them chasing numbers of huge franchises like Call of Duty and because of that their expectations are never met for titles.

        1. I’m sure they will- its a subscription model so they can have a steady stream of income to rely on. I doubt they would want that to go away.

    2. I would feel better if it was only FFXIV related. Unfortunately, like Fusion says, it’s way beyond that. They haven’t impressed me since Final Fantasy XI. I have found everything since then has been mediocre.

      1. Give the people what they want. (Remakes and games reminiscent of previous titles.) And scale back on manufacturing for US titles (A la the Tales series.) They’re nothing more than a niche market here now and they need to realize that. Their expectations are always too large. They can try to acquire more properties to publish in Japan and abroad. Just my two cents.

        1. Agreed. However, I like the ambition, god knows Square Enix is one of only a few companies that can even attempt playing hard ball. They just need to stop failing at it and, as you said, stick to what you’re good at.

  2. Hoping this doesn’t impact FFXIV, which I plan to fully support if it meets my expectations.

    1. FFXIV is currently in beta, it’s on the road to release. Nothing is going to prevent the game from launching at this stage.

      1. Excellent. I now know I will be throwing my money at a completed, and polished product.

  3. Oh crap… They better not fuck up FFXIV now…… I think the problem is SE makes too many half hearted games… Spend more resources and time on a few gems, and less time on trying to send out a trillion mediocre games. I just feel like they always have too many projects at once going on…

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