Square Enix Slashes Financial Forecast

Square Enix has finally released its financials, including a revised forecasts for this financial year — ending March 31, 2009. Sales and income are expected to be down.

According to Square Enix, the company's new net sales forecast is 16.9 percent lower than previously thought. Net income is expected to be down 62.5 percent.

What's the cause of the slashed forecasts? It's offline games and Taito amusement division are expected to underperform for the rest of the year.

"While the results for games (online), mobile phone content, publishing and others segments have been progressing at a rate exceeding the figures previously planned," Square Enix stated in a release, "amusement (Taito) and games (offline) segments are projected to underperform the figures previously planned due to severe business environment for amusement, and the adjourned release of a major game software, which was originally announced to be released in March 2009." That, of course, refers to the DQIX delay.