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Former Head of Square Says Merger With Enix Has Been A ‘Total Failure’

Posted on November 7, 2012 AT 11:15am

There used to be a time when SquareEnix was actually two competing companies: Squaresoft and Enix Corporation. In 2003, the companies merged—but Square’s former CEO thinks that merger’s been a failure.

Taking to Twitter, Suzuki Hisashi said the following (translated from Japanese):

[SquareEnix'] market cap is ¥124 billion [$155 million]. Before the merger with Enix, it was ¥150 billion [$187 million]. The merger was a total failure. A vision for the future doesn’t exist. SquareEnix Holdings, from April to September, posted a ¥5.4 billion net loss, much of which was attributed to development expenses.

Among long time fans of both Square and Enix, there are still some who are bitter about the merger between the two companies, and how that merger seems to have cut down on many of the smaller side projects that both organizations used to release.

Of course, it’s only fair to point out that Hisashi was in charge of Squaresoft during the period in which they released the CG movie Final Fantasy: The Spirits Within—a project that almost single-handedly destroyed the company.

Source: Twitter

Eric L. Patterson, Executive Editor
Eric L. Patterson got his start via self-publishing game-related fanzines in junior high, and now has one goal in life: making sure EGM has as much coverage of niche Japanese games as he can convince them to fit in. Eric’s also active in the gaming community on a personal level, being an outspoken voice on topics such as equality in gaming and consumer rights. Stalk him on Twitter: @pikoeri. Meet the rest of the crew.

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