SQNXF - Square Enix's Financial Blow: $140M Loss From Game Cancellations | Benzinga
Square Enix Holdings Co Ltd (OTC:SQNXF) recently announced a significant change in its game development strategy, resulting in absorbing 22.1 billion yen (approximately $140.9 million) in what it termed “content abandonment losses.”
The company made this announcement as a caution to investors, stating that it would recognize this extraordinary loss for the fiscal year ending in March 2024, IGN reported.
See Also: Square Enix President Proclaims Quality Over Quantity As Lineup Gets Trimmed
This shift in approach primarily concerns the development of high-definition (HD) video games for PC and consoles.
According to Square Enix, the intention behind this change is ...