Speaking in an exclusive interview, he echoed comments made to GamesIndustry.biz by Codemasters CEO Rod Cousens, saying that without new IP the "business won't be viable".
But he also added that, as a company with a number of high profile franchises including Final Fantasy and Tomb Raider, there wasn't a need for complete revolution as far as they were concerned.
"As an entertainment company the business won't be viable if we don't continue to nurture new IPs," Wada-san explained. "But we don't need to come up with something that's dramatically new for the existing franchises, because we already have fans for those. If we carefully evolve them, that should be sufficient."