Square Enix wants to create “successful global addresses” and believes that blockchain will “play a key role in future growth.”
In a financial report that confirmed Square Enix has “set new records for full-year net sales,” the Japanese company said it wanted to “strengthen the [its] Presence in the global market” given the “gray demographics” to develop games primarily for the Japanese market.
In the statementSquare Enix said it was “important to [its] business that [it] Producing successful titles that speak volumes for the global market.”
“In order for our group to better focus on developing titles for the global market in this changing environment, we need to focus our limited resources on developing strong and robust titles,” the company said.
“We need to strengthen our presence in the global marketplace by quickly establishing an organizational structure that enables us to roll out consistently high-quality content through selective and focused resource allocation, which requires a revamp of our title and studio portfolio.
“Achieving significant growth in the gaming industry is now challenging for companies that primarily compete in the Japanese market, given the gray demographics. As such, it is critical to our business that we produce successful titles that speak to the global market, and that provide greater scope in terms of customer and sales volume,” Square Enix added (thanks, NME).
“In other words, the Japanese market is no longer sufficient to achieve a level of profits that will enable us to offset our development investment and make a profit, and therefore we need to approach our development efforts on the basis of the assumption that we have to succeed in the global market.”
President Yosuke Matsuda added that he believes that “blockchain entertainment” will “play a major role in the [SE’s] A strategy for future growth,” adding that the company “has identified artificial intelligence, cloud, and blockchain as focused investment areas.”
Just weeks after confirming it Selling its Western studios and intellectual property to Embracer Group for $300 million, Square Enix revealed plans to “create new studios” and acquire others.
The news came as part of the company’s recent financial presentation, which revealed that one of Square Enix’s “medium-term business strategy” initiatives is to “strengthen game development capabilities by creating new studios, [mergers and acquisitions]etc.”
The company said that the “goals behind stripping offshore studios and intellectual property” — which is why it sold its three Western studios — were “to achieve sustainable growth through the selection and focus of company sourcing, better alignment of the offshore publishing function with the organization in Tokyo, and the transformation of the business portfolio.” collective”.
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