"extraordinary loss" this financial year. Matsuda-san will be aggressively reviewing the business.
At a briefing session, the new president said they'd be "thoroughly squeezing out" what doesn't work. A more concrete plan will be unveiled "in the near future," he said.
Square Enix has already confirmed layoffs "corporate restructuring" that was announced earlier. What studios will be under threat by this review?as part of
While critically well received, Tomb Raider, Hitman: Absolution and Sleeping Dogs have all failed to meet Square Enix's internal expectations.
"After having succeeded the important role as the president, I plan on reviewing all Square Enix duties, business and assets on a zero-based budgeting standpoint. Due to the radical change of environment, I’d like to fundamentally review what works and what doesn’t work for our company, then cast all of our resources towards extending what makes us successful and thoroughly squeezing out what doesn’t," said Yosuke Matsuda, reports .
"As far as a concrete plan on what to expect from us, I will further explain it on another briefing session in the near future, so I kindly ask for your patience. Thank you for your support.” Yoichi Wada's resignation takes effect this June but he will remain a part of the company. The outgoing president is confident in Yosuke Matsuda's ability to lead.
“As an employee, I believe it is my duty to help the company and give proper results from it. I will be retiring from the line of management, but I plan to work on site as a way to pay my debt to the company," said Wada-san. Square Enix has posted losses of around ¥10bn for fiscal year 2013.