Eidos Buyout, Taito Severance Drains ¥5 Billion from Square-Enix

Square Enix amended its consolidated results forecast today, lowering its income projections for the fiscal year, which is now half over. Severance payments to get rid of some Taito employees and the company's takeover of Eidos were blamed.

The revision takes some ¥4.9 billion off their net income - about $53 million US - in the first half of this fiscal year (which spans April 1 to March 31). Originally, Square had been planning on 7.5 billion yen in the first half of this fiscal year; it's now predicting ¥2.6 billion, and for comparison's sake, at this time last year it had pulled in ¥6 billion.

Square's income picture for the year fell commensurately; it was lowered from ¥15 billion for the entire fiscal year down to ¥10 billion.

The entire filing [pdf]is available through Square-Enix's investor relations site if you're into this sort of thing.