Final Fantasy developer Square Enix has canceled $140 million worth of games and projects after the company’s board of directors “acknowledged extraordinary losses.” The developer announced these details in a warning statement for investors and adjacent parties dated April 30, 2024.
According to Square Enix, the company aims to “revamp its approach to high-definition (HD) game development” and specifically wants to be “more selective and focused in allocating development resources.”
Upon closer examination with other board members, Square Enix “expects to recognize content abandonment losses on its books during the fiscal year ending March 2024 of approximately 22.1 billion yen (approximately $140.9 million at the time of writing).”
This is shocking news for Square Enix and those looking forward to future games from the company. Unfortunately, there are no confirmed details about which games or projects were originally canceled or adjusted according to the new development pipeline. Square Enix hopes to improve its standing in the next fiscal year as it aims to use the company’s resources more selectively by focusing on a smaller number of games.
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