In a New Year letter, Square Enix president and representative director Yosuke Matsuda marked 2023 as the 20 year anniversary between Square and Enix and shared some of the obstacles in the wake of the coronavirus pandemic. Namely, the US Fed's acceleration of raising interest rates in the attempt to prevent inflation from ballooning, setting off a chain reaction of events that have lead to a weak yen thereby stressing supply chain issues in Japan as importing goods becomes more expensive.
This has continued to have an impact on Square Enix's business and operations, and includes examples such as Final Fantasy XIV being unable to easily purchase and install server infrastructure to accommodate larger amounts of players, though Matsuda expects the scarcity of desired components to improve in the Spring season.
The company also sold three studios in 2022: Crystal Dynamics (Marvel's Avengers, Tomb Raider series), Eidos-Montreal (Marvel's Guardians of the Galaxy, Deus Ex series) and Square Enix Montreal (Deus Ex GO, Hitman GO) to the Embracer Group. This divestment was a part of the plan to reconfigure the company's priorities and to focus on internally developed titles, though the company has looked to outside partners to develop the salvo of titles
Recent Comments