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Square Enix Execs Take Self-Imposed Pay Cut

Kotaku writes: "Financial forecasts slashed, stocks plunging. Times are hard for Japanese role-playing-game maker Square Enix.

While some other execs might pass the buck and make cuts everywhere except for their own salaries, Square Enix's Yoichi Wada is not some other exec."

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rCrysis4008d ago

i wonder why right? they could've save their selves some trouble than go through this...if you know what I mean.

nbsmatambo4008d ago (Edited 4008d ago )

DEVELOP JRPGS FOR THE PS3!!!!!

Karma is a biatch SQENX...

there im done =D

Have a good night

4008d ago
socomnick4008d ago

For all you know those ms bribes are whats keeping Square Enix afloat, nobody truly knows. Also porcelain don't comment on something you have absolutely 0 knowledge about.

Microsoft Xbox 3604008d ago (Edited 4008d ago )

There is not even one Square Enix game on the PS3 right now. That is their problem. Third party devs/publishers make more money per each unit sold on the PS3. FACT

Nihilism4008d ago

i agree with everything you said but why is it a bad thing that they made games for pc as well....final fantasy ports would be the only ports worth buying...it's just a shame the games they are putting on pc suck donkeys balls *cough* last remnant cough*, and ff13 was made usuing pc tech, although they did dumb it down for the 360 compatability...

maniacmayhem4008d ago

Wow, Sony Fanboys sure are compassionate.

Funny, maybe its because the whole world is in a tight recession and that all game companies are feeling the financial pinch. You do know that big companies every where are laying off and cutting back, companies like EA, Midway, Sega, even SONY AND MICROSOFT had to do cut backs and lay offs.

By having the CEO taking a paycut they can put more money into the company. (Like buying Eidos)

But of course this isn't the reason, it's because Square broke their loyalty and turned their backs on the PS3 Army. (even though the FF series started on NES hmmm go figure.)

Da One4008d ago

No those would be those 500k+ remakes/spinoffs/ports that keep putting out

PSP and DS are keeping SE a float............

XxZxX4008d ago (Edited 4008d ago )

I thought I heard someone said Square Enix is enjoying FAT Exclusive paycheck from Microsoft. To whom whoever that is, APPARENTLY NOT ENOUGH if flopped that bad.

self-imposed paycut = Don't fire me for my stupid mistake please. I said please.

xwabbit4008d ago (Edited 4008d ago )

White Knight Chronicles was a new IP and it sold more on its first 2 weeks that star ocean did and that game is very popular and old :/(BTW White Knight Chronicles is only out in Japan not like star ocean which is out in japan and U.S). SE said turning to the 360 was a good idea huh lol

beardpapa4008d ago

Shareholders want SE execs to have pay cuts, lower salaries, & Wada explaining that he "is not like other execs" to create good PR ? Possible?

Tidus114008d ago

What confuses me is the fact S-E announces ff13 multiplatform because they needed to maximize their potential sales and do this by presenting it to a broader audience, yet contrary to that statement they haven't released a single ps3 game but have had no problem releasing bust after bust on the 360(in exception to SO4). It's to bad they only apply their logic occasionally, maybe they would be in a better economic position if they had released a couple games for ps3, their past money making brand.

Argento-Nox4008d ago

@SocomNick

If those MS bribes were keeping SE afloat, why would they need the pay cut? Putting their games multi-platform would probably have made them more money.

The only thing keeping SE afloat are five words; "Dragon Quest","Final Fantasy" and "remake". About the best option out of the financial hole for them involves these four words, "Final Fantasy 7 remake", either that or get FFXIII, DQ9 and DQ10 out.

Montreafart4008d ago (Edited 4008d ago )

PS3 2 years out: not one high quality SE games

360 3 years out: 3 or 4 crappy games from SE.

Fact is, they bet on the 360 and the handhelds but the quality of their rehashes are poor and 360 has turned out to be a bad bet.

So they slash their financial forecast? Oh really SE? I mean a kid could have told you that you arent going to sell anything on the 360 but did Wada honestly thought they would? LOL

Fact is, SE has become this big by a bunch of loyal fans. This fanbase isnt ultra rich, SE. This fanbase liked your games. Because you provided high quality titles, high quality RPGs. This fanbase is also just primarily based on Playstation platform and when you provide games for it, they will buy.

But the current strategy of SE is basically trash. They went "multi platform" apparently but some platforms get more games than other platforms. Basically SE is just saying "FK YOU" to the fanbase. Because they are spreading all their titles on all platforms but there is not a single fan out there who would buy all the consoles just to continue playing some of their cheap rehashes and knock offs.

Thats just a fact. Who in his right mind, will buy a 360 for Lost oddysey, a wii for FF crystal chronicles AND a PS3 for FFversus13.

2 out of the three games mentioned above, are massively AVERAGE and if you are a fan with small savings, the only one you are going for, is probably FFversus13.

Yet, that is exactly what Wada is expecting from the fanbase. Well, the fanbase is angry now. Very angry. SE has been fked up anyway. Their business tactics and arrogance is truly something else. Want exclusive info on FF? You need to pay for it. Want a free demo? Pay for it Sony.

"oh so you want FF7 remake, Sony?" "sure thing...that will be XXX amount first"

Well, the fanbase is very angry after SE last E3 betrayal. In Japan, many fans have made angry outcries on websites and website forums.

It wasnt just the announcement, lets face it. It was the way he did it. And now the public has turned against the arrogant Square enix who forgot that the Playstation platform is where they have grown.

Biatchslapped. Oh yea, they made the wrong bet with the 360 alright. Now the PS3 stands at 21 million units compared to 24 million units of 360. Oh yea, PS3 is taking over and not a single developer can still refuse to do games on the PS3.

+ Show (10) more repliesLast reply 4008d ago
Parapraxis4008d ago (Edited 4008d ago )

Square-Enix could have possibly forgone these cuts if they didn't ignore a huge userbase that would shell out money for their JRPG's.

I'm not sure if they realized that when they got into bed with MS, that the blankets would be stolen from them. Now they've woken up cold and shivering, while MS lies comfortably sleeping next to them.

MS had nothing to lose, it would appear as though the same cannot be said for Square-Enix.

Making your games have timed exclusivity, and alienating and frustrating your largest fanbase is a very poor decision.

Sony owners in Japan and beyond have been passed over for the promise of a quick buck and a foot in the door for the western audience. Unfortunately, for Square-Enix, I think they forgot that The PS3 is not only available in Japan, but the rest of the world, that includes North America.

thebudgetgamer4008d ago

ignore the fans that carried you for fifteen years.

:)

Elven64008d ago

Firstly, many of those games were a mess that deserved to sell bad, had they put more time into them perhaps they would have sold better. Secondly, this company bought Eidos...nuff said.

Although it is admirable of him to cut his own salary, shame other execs aren't so respectful.

XxZxX4008d ago

They think they can made a console. Apparently not as powerful as they think.

Chris Hansen4008d ago

The shareholders need to get rid of this Yoichi Wada douchebag.

ps921174008d ago

no it was entirely his fault, the guy needs to not have that position(.)

TOO PAWNED4008d ago

Now is good time for SONY to acquire them

XLiveGamer4008d ago (Edited 4008d ago )

lmao ! are you serious? Microsoft have more change than Sony on that topic. Sony its in danger compared to Microsoft. But hey some people have the courage to play the Russian roulette.

Godmars2904008d ago

Well think how softer that hit would have been if Last Remnant and SO4 had come out on the PS3 instead of trying to make the 360 popular in Japan.

zag4008d ago

Nither does have the cash either MS.

With their shares going from $30+ a pop to less than $17 a pop even before the credit problems in the US.

Sure MS has heaps of cash but it can't keep running around dropping 100 million on this and that game anymore those days are gone now.

Sony is re-jigging itself, so people are being moved around rather than sacked same with Sony companies.

+ Show (3) more repliesLast reply 4008d ago
v1c1ous4008d ago

try to use the "this is for betraying your fans" excuse.

Parapraxis4008d ago (Edited 4008d ago )

Yes, very clever.
Cuts are being made by almost all game developers.
HOWEVER, the severity of these cuts are varying, and due to Square-Enix's business choices thus far this gen, it's easy to correleate one bad choice after another resulting in the company having to make these more severe cuts.

They ignored a huge segment of their market. Do you honestly think this was a smart move? And do you really think that by ignoring these consumers they have not created their own problems?

Karum4008d ago

I mean isn't their official line for going multi plat on FF13 something along the lines of them needing to maximize revenue in order to make money because games are now more expensive to develop and want to make more money?

Then they turn around and put out a bunch of 360 exclusives.

They've just made bad decisions and now they're suffering the consequences. They've made their bed and they are having trouble getting out of it.

zag4008d ago

be carefull about what you say or think.

A lot of people say the 360 sells more and on some sites listing sales it would look like that.

On the books though the PS3 is brings in more cash than the 360.

I can see the point why Square enix has been losing cash big time, people will have bought PS3s to get teh SE games but so far all they have done is say X game is 360 only.

They also say there's new PS3 only games but hey they might not get the chance to come out.

Also SE sell a lot but you'll find that's in Japan, US gamers are far more interested in FPSes than RPGs.

I fail to see how SE could ever suddenly swap brands of consoles and think they will suddenly make more cash, the 360 has only really sold well in the USA, the rest of the world it's pretty damn poor really, when you need a decent amount of people witha 360 plus also want to buy SE games this hasn't worked out as thought.

It seems that all SE has been fussing about is the US market even the Jap market has been left behind for the US market.

The whole attach rate should be dumpped as it's only working out for a few games.

No1080ptvonthemarket4008d ago (Edited 4008d ago )

Dear Square Enix,

Screw you

PS3 Fans