Square Enix Cut Profit Forecast Due To Sluggish Sales Of A Major HD Title

By Ishaan . October 30, 2012 . 11:01am

Square Enix have made revisions to their earnings forecast for the ongoing fiscal year, the publisher announced this morning.


Square Enix cite sluggish sales of an unnamed major HD console game as one of the causes for the revision, alongside sluggish sales of arcade machines in Japan and a delay in launching social game services, which resulted in a decrease of revenues.


Also to blame is a 1.1 billion yen ($13.8 million) foreign exchange loss recorded for the first half of their fiscal year due to currency exchange rates in relation to overseas assets.


As a result, Square have revised their forecast for the full fiscal year by cutting their their profit forecast by nearly one-third from 9 billion yen ($113 million) to 3.5 billion yen ($44 million).

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