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Square Enix Slashes Financial Forecast

Square Enix has finally released its financials, including a revised forecasts for this financial year - ending March 31, 2009. Sales and income are expected to be down.

According to Square Enix, the company's new net sales forecast is 16.9 percent lower than previously thought. Net income is expected to be down 62.5 percent.

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Sony Rep4248d ago

Can't say I didn't see this coming...

Protip: JRPGS on the 360 is like peeing from your butt hole...

coolfool4248d ago

but what really puts the nail in the coffin of JRPGS on the 360 is fact that they have been BAD JRPG's on the 360.

The projection was obviously based on these games doing better than they did. I don't think this revised forecast has anything to do with recession.

Chris3994248d ago (Edited 4248d ago )

Their attempts at being original - Infinite Undiscovery, Last Remnant - have been poor at best.

Porting a 14 year old SNES cart (Chrono Trigger DS) and charging full retail price for it, should really inspire more consumer malcontent than it has.

Porting a DS game to the Wii (FF:CC) is equally as insulting.

Sure, they've had one or two gems, but the ratio of crap vs. quality is definitely weighed in favor of "crap". This company is starting to look more and more like E.A. before their fall. Only worse, as I have a feeling that they are too proud to adapt to the marketplace.

Oh, and ignoring a 21 million install base system - PS3 - for 2, going on 3 years, really isn't going to help their perception to gaming enthusiasts either.

They're not innovative or interesting enough, they deserve to fall prey to natural selection, just like any other bloated, ego-maniacal corporation.

Adapt or die.

Edit: Sorry, wrong title. I was thinking about something else. Fixed. World Ends With You was pretty fun, actually.

ChickeyCantor4248d ago

" Their attempts at being original - World Ends With You,"

Actually it was recieved very well.
World ends with you seems to be a really good game for those who played it.

CBaoth4248d ago (Edited 4248d ago )

Man I hope more people wake up and realize the 360 has nothing to do with the demise of SE's quality. It was happening at the end of the last gen on the PS2. Like all other Japanese devs, they've rested for far too long on their laurels - porting, remaking, and sadly sometimes simply re-packaging the same garbage over & over. With the horrible sales of Echoes, it finally looks like the Japanese are starting to realize this. They rush out their new IPs (for financial reasons) before they're ready and act like the name alone will ensure millions of 360 owners mindlessly flocking to the shop to buy it. A polished turd is still a turd. I never thought I would see the day when WRPG devs are outselling their JRPG counterparts.

coolfool4247d ago

World Ends with your was developed by Jupiter. I think they had a cash injection from SE (i can't find source, sorry) so you might see SE on the dev list as well but it was a Jupiter game.

Square enix just published it.

gaffyh4247d ago

The only games that can redeem Square Enix, and will increase their profits are the FFXIII games. The PSP Agito XIII will sell like crazy (look at what FF7 did on PSP), FF13 should also give a similar boost this year, cos it is being released in Japan on PS3.

Maybe Star Ocean 4 will help, but it doesn't make much sense being 360 exclusive, but seems like Tri-Ace just can't be bothered with PS3 development.

+ Show (3) more repliesLast reply 4247d ago
yanikins1114247d ago

Two possibilities.
1) Square/Square Enix simply dont make enough good games.
2) Their management team makes retarded decisions.

Square seems to always be in financial grey spots. What up with that?

Pennywise4247d ago

I dont think Sony will be bailing them out this time.

DrWan4247d ago

before they merge, Sony owned a significant part of SE's stock, like 30% ish or so. And they have bailed them a few times acutally. But this generation, their relationship..i think they will be more likily to ask MSFT for bailing.

PS360WII4247d ago

They also delayed DQIX for 3 months. I'm sure they were expecting some good sales to help make their goal but now that the game won't release within this forecast they lowered it.

Makes sense if you think about it but I do like how quickly people went after the 360...