Square Enix looks to have canceled multiple unannounced games, accruing more than $140 million in development costs on said games.
A new memo from Square Enix reveals that the company's board of directors met earlier this year in March, and decided to vote on its approach to "the development of high-definition games with the intention of being more selective and focused on the allocation of development resources."
The memo implies that the board of directors effectively voted to cancel unannounced games, although it's unclear how many. As a result of these cancelations, Square Enix has effectively eaten ¥22.1 billion (approximately $140 million) in "content abandonment losses for the fiscal year ended March 2024."
Earlier this year in February, Square Enix admitted that players throng to just a handful of titles, and more games either crash and burn or find a dedicated audience. It appears that Square Enix has recognized this consume approach and effectively reduced the amount of games that it's developing as a result.
Before that in January, though, Square Enix president Takashi Kiryu said that he wanted the developer to focus less on huge JRPGs like Dragon Quest and Final Fantasy, and have "greater diversity" in the company's games output. It's unclear if that view remains intact considering Square Enix might have just canceled multiple unannounced games.
Square Enix's president isn't just shaking up its games output. Earlier this month, it was reported that Square Enix had removed a Dragon Quest veteran producer of 22 years, as Dragon Quest 12 reportedly faced more delays, and Nier Automata's producer could possibly take over the vacant role. The company is seemingly changing a lot in its approach to how it makes games, and what games it puts out.
Check out our new games 2024 guide for a look ahead at all the titles Square Enix and other developers have on their schedule for the current year and beyond.
