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What Did We Learn From Square Enix’s Annual Report?

Square Enix recently released its Annual Report 2022. In this report, President Yosuke Matsuda reaffirmed the company’s commitment to blockchain gaming experiences.

“At present, we are positioning the blockchain domain as our most important focus and approaching our investment and business development initiatives accordingly,” Matsuda stated in the report. “I believe that blockchain gaming holds the potential to create new forms of gaming content and that it represents a new business domain worth our Group addressing alongside traditional games.”

The report also showed that net sales and operating incomes from the company’s digital entertainment segment rose by 6% from the previous fiscal year. This represents an increase of roughly $1.9 million.

Unfortunately, the report wasn’t filled with only good news. The company confirmed it would not be releasing any HD titles from its flagship franchises until 2024. However, the organization said that fans can expect some mid-size games next year.

“Achieving major growth in the game industry is difficult now for companies that compete primarily in the Japanese market, given its greying demographics,” Matsuda said. “As such, it is critical for our business that we produce hit titles that speak to the global market, which offers greater scale in terms of both customers and sales volumes. Furthermore, game development efforts are becoming more sizable and sophisticated as the result of technological advancements in the devices on which they are played, such as consoles or smart devices. The investment required to develop game titles is, therefore, an order of magnitude greater than in the past.”

(All information was provided by GameLuster, Pocket, and Square Enix)

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