Square Enix Faces $140 Million Loss Due to Canceled Game Projects

Square Enix has announced that it will incur a substantial financial loss in its upcoming earnings report due to the cancellation of several game projects. As part of its new strategy to be more discerning and focused in its allocation of development resources, the company's board of directors approved a plan on March 27 to reevaluate its HD game pipeline. This decision is expected to result in a ¥22.1 billion ($140 million) loss for the fiscal year ending March 31. The company is currently assessing whether this loss will necessitate a revision of its previously announced earnings forecast. Square Enix is set to release its annual earnings report on May 13. The publisher's recent lineup of HD games included titles such as Final Fantasy: Pixel Remaster, Final Fantasy 16, and Final Fantasy 7 Rebirth, with the latter two reportedly underperforming in terms of sales.