449 views 0 comments

Wada Steps Down from Square Enix

by on March 26, 2013


Yoichi Wada is stepping down from Square Enix.

Wada will leave his position as president and representative director “subject to a resolution” at the shareholder meeting in June. He will be replaced by former company director and CFO Yosuke Matsuda.

The news comes the same day the company announced a major restructuring during “the rapidly changing environment of the game businesses.” Square Enix expects the restructuring to incur a $106 million loss.

The main cause of the changes are “weak sales” of bigger titles, including Sleeping Dogs, Hitman: Absolution and Tomb Raider. The first title is expected to sell about 1.75 million units, while Hitman is expected to move 3.6 million. Tomb Raider, which is a solid title, is expected to move 3.4 million. This raises the question of what unrealistic expectations were sought for these game sales.

“Despite the high critical acclaim, [the games listed] failed to meet each target,” the investor statement read. “In particular, North America sales force was ineffective, ending up with 2/3 of number of units sold in Europe.”

Be the first to comment!
Leave a reply »


Leave a Reply