Former Square Enix director slams company's lack of vision

Written by David Hing

November 8, 2012 | 09:02

Tags: #financial

Companies: #square-enix #twitter

Former Square Enix director Hisashi Suzuki has publicly criticised the company over Twitter for having no vision.

Suzuki, also a former Square president, points out that prior to the merger with Enix, Square's market capitalization was 150 billion yen, compared to its current value of 124 billion yen.

'There is no vision for the future,' Suzuki said, adding that he expects the merger to fail completely. Suzuki also highlights the huge development costs the company faces, claiming that HD gaming is a burden to the company.

Square Enix recently posted a loss of 5.4bn yen (£42.3m) in its latest financial results covering the six months ending on September 30. Although it made an overall loss, the company did see a 6.2% year-on-year increase in revenue, bringing in a total of 61bn yen (£478m) compared to 57.5bn yen (£450m) in the same period in 2011.

The disappointing performance was attributed to a delay to its social gaming service and slow sales of arcade releases. Sleeping Dogs, although also not living up to company expectations, did however manage to ship 1.5 million units.

Currently a director at Sega, Suzuki was a director at Square Enix between 2003 and 2005 and was president of Square between 2000 and 2002.

Square and Enix merged to form Square Enix in 2003. The company also owns British publisher Eidos Interactive and arcade game and hardware publisher Taito Corporation.
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