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Square Enix has had a busy year with the release of Crisis Core: Final Fantasy VII Reunion, Forspoken, and Octopath Traveler II. However, the company is looking to expand further and is considering the possibility of establishing new studios or acquiring existing ones.
In their latest earnings report, Square Enix shared their intention to increase their in-house development resources by exploring various options, including mergers and acquisitions, the creation of new studios, and investing in minority stakes to access external development resources.
Square Enix is also looking to hire additional engineers and developers with the aim of creating content for future cross-platform offerings, including HD and smart device games.
Despite a decline in sales and profit during the 2023 fiscal year, Square Enix attributes this to the absence of expansions in comparison to last year’s DLC for Final Fantasy XIV. However, the company is anticipating a more robust fiscal year in 2024.
Luminous Productions, the developer of Forspoken, was merged back into Square Enix earlier this year to focus on developing AAA games. However, in March, Square Enix expressed disappointment in the lackluster sales of Forspoken. Additionally, its president stepped down after a 10-year tenure that concluded with controversial support for blockchain technology.
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