Square Enix, a prominent video game company, has announced its anticipation of formidable losses of 22.1 billion yen for the fiscal year ending March 2024. This is due to the company’s strategic decision to adjust its developmental approach towards high-definition games, with an objective of being more discerning and concentrated in allocating developmental inputs. The decision for this revision was made by the Board of Directors as they aim to adapt to the ever-changing environment surrounding the group.
In constructing the development pipeline based on this new approach, the company had to endure the consequences of content abandonment losses. They expect these losses to be reflected on their books for the aforementioned fiscal year with a considerable estimation of 22.1 billion yen.
Their future outlook depends on a careful review of the company’s consolidated forecasts for the fiscal year ending in March 2024. If the need arises to revise these forecasts following an evaluation of the impact of the aforementioned loss and other relevant factors, the company has pledged to promptly release the updates.
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