Square Enix takes $140 million hit on cancelled games

Square Enix announced a significant financial impact of $140 million due to cancelled projects, as it shifts strategy to focus on a more selective game development pipeline. This decision was made by the board on March 27, aiming to optimize resource allocation. The loss will be reported in the upcoming earnings for the fiscal year ending March 31, with final results to be disclosed on May 13. Notably, games like Final Fantasy 16 and Final Fantasy 7 Rebirth have underperformed, influencing this strategic pivot.