https://www.gematsu.com/2024/04/square-enix-to-record-extraordinary-loss-of-22-1-billion-yen-in-content-abandonment-losses-following-revised-development-approach

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[                    ]

Square Enix to record extraordinary loss of 22.1 billion yen in
"content abandonment losses" following revised development approach

Square Enix to be "more selective and focused in the allocation of
development resources."
Sal Romano
Apr 30 2024 / 2:30 AM EDT
0
[Square-Eni]

Square Enix expects to recognize extraordinary losses of 22.1 billion
yen in "content abandonment losses" for the fiscal year ended March
2024, the company announced.

The Board of Directors voted to "revise the Group's approach to the
development of high-definition (HD) games with the intention of being
more selective and focused in the allocation of development
resources." The losses are a result of this revised approach.

Get the full announcement below.

    # Notification of Recognition of Extraordinary Losses

    Square Enix Holdings Co., Ltd. expects to recognize extraordinary
    losses pertaining to abandonment losses associated with its
    content production account on its books for the fiscal year ended
    March 2024, as detailed below.

    1. Nature of the Extraordinary Losses

    At the meeting convened on March 27, 2024, the Board of Directors
    of Square Enix Holdings Co., Ltd. (the "Company") voted, in light
    of the myriad changes underway in the environment surrounding its
    Group, to revise the Group's approach to the development of
    high-definition (HD) games with the intention of being more
    selective and focused in the allocation of development resources.
    As a result of a close examination of the Group's development
    pipeline undertaken in keeping with this revised approach, the
    Company expects to recognize approximately Y=22.1 billion in
    content abandonment losses on its books for the fiscal year ended
    March 2024.

    2. Outlook

    The Company is carefully reviewing its consolidated forecasts for
    the fiscal year ended March 2024 to assess the potential for
    impact from the above or other factors. Should revisions to its
    forecasts prove necessary, the Company will promptly disclose the
    same.

Company Profile

Square Enix

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