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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

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About Mollie L Patterson

view all posts

Mollie got her start in games media via the crazy world of gaming fanzines, and now works at EGM with the goal of covering all of the weird Japanese and niche releases that nobody else on staff cares about. She’s active in the gaming community on a personal level, and an outspoken voice on topics such as equality in gaming, consumer rights, and good UI. Find her on Twitter @mollipen.

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

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.

By Mollie L Patterson | 11/7/2012 02:15 PM PT

News

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

0   POINTS
0   POINTS



About Mollie L Patterson

view all posts

Mollie got her start in games media via the crazy world of gaming fanzines, and now works at EGM with the goal of covering all of the weird Japanese and niche releases that nobody else on staff cares about. She’s active in the gaming community on a personal level, and an outspoken voice on topics such as equality in gaming, consumer rights, and good UI. Find her on Twitter @mollipen.