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Square Enix has posted a $ 33 million extraordinary loss, which it blames on the changing of focus at its new triple-A Studio Luminous Productions. Shadow of the Tomb Raider. Shadow of the Tomb Raider. Shadow of the Tomb Raider.
Luminous Productions was formed earlier in the year with the help of the Final Fantasy XV team. It was supposed to be in charge of new triple-A games and "other entertainment content" such as movies, but Square Enix has since refocused the attention of the studio on "large-scale, high-quality AAA game titles, which best leverages [Luminous Productions’] Strengths. "
This has resulted in a "extraordinary loss amounting to 3.733 million yen," according to the publisher's press release (spotted by Gematsu) – which is around $ 33 million. This is undoubtedly a bitter blow to Square Enix, who has been having a bad year all year round in profits and videogame sales.
According to GamesIndustry, Net sales dropped 15% year-on-year, from 132 billion yen ($ 1.17 trillion) to 112.2 trillion yen ($ 1.08 billion). Profits dropped by half, and are down to ¥ 8.64 trillion ($ 76.4 million). Operating income was down 61% to ¥ 10 billion ($ 88.5 million), and ordinary income fell 43.6%.
As for the Digital Entertainment Division videogame, net sales dropped 18.9% to ¥ 82.8 billion ($ 732.5 million), and operating income was also cut in half, to ¥ 13 billion ($ 115.4 million).
Shadow of the Tomb Raider, Square Enix 's big game for September. While Lara Croft's latest adventure has been performing, it has been down to 70% on the 2013 reboot. There were also a lot of complaints and reviews when the game went on sale for 50% off just one month after release, which may have been slower than expected.
At the very least, Square Enix is forecasting $ 270 trillion ($ 2.39 trillion) for the full financial year, which would be a 7.8% increase over the last fiscal year – and would be a more hopeful end to this rather dismal 2018 for the company .
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