<![CDATA[Square Enix Big 33 Million Lose]]>Square Enix has shown that is has lost more than 33 million. This lose is said to come from a focus on triple AAA games.  Interesting as the lose comes from Luminous productions which is lead by Hajime Tabata and so far they have only done Final Fantasy XV. You can see the official statement below.

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Square Enix Holdings Co. Ltd. (the “Company”) announces today that it has booked the following extraordinary loss in the financial results for the six-month period ended September 30, 2018.

 

1. The cause and nature of the extraordinary loss

Having conducted an in-depth review of the business strategy for Luminous Productions Co., Ltd., a wholly-owned subsidiary (the “Subsidiary”), the Company had decided to focus the Subsidiary’s development efforts on large-scale, high-quality AAA game titles, which best leverages the Subsidiary’s strengths. This decision has resulted in the booking of an extraordinary loss amounting to 3,733 million yen, including the disposition of the portion of the content production account related to the game titles under development at the Subsidiary and impairment losses on intangible assets, in the Company’s financial results for the six-month period ended September 30, 2018.

 

2. Impact on financial results

The aforementioned extraordinary loss has been fully reflected in the financial results announced today as the “Consolidated Financial Results for the Six-Month Period Ended September 30, 2018 (Japan GAAP).”

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Now we were told we would be shown what other games luminous would be working on as we were told it would be revealed at a later date. To this day we are still waiting for that information.

Article:http://www.siliconera.com/2018/11/07/square-enix-books-extraordinary-loss-of-33-million-from-its-focus-on-aaa-game-titles/

As always thank you for reading.

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