Tomb Raider and Hitman Absolution publisher Square Enix has posted an expected 13.7 billion yen ($138.4 million) loss for the last financial year but has announced that it expects to return to profitability next year.
The company's losses are a stark contrast to the 6 billion yen profit for the previous fiscal year and the "extraordinary" nature of Square Enix's poor revenues have already seen President Yoihci Wada announce his resignation at a forthcoming shareholder meeting in June.
"The business environment surrounding the Group is in the midst of major changes, where devices such as smartphones and tablet PCs are spreading rapidly," the firm's financial report commented, "while the console game markets in North America and Europe are increasingly competitive and oligopolistic. In light of such environmental changes, the Group is focusing all efforts on a substantial earning improvement through driving reforms of business structure in order to establish new revenue base."
Square Enix is currently restructuring and has seen dwindling returns in its domestic arcade market. In addition, sales of major releases including Tomb Raider fell far short of the company's expectations.
Among the titles set to be launched by Square Enix are Final Fantasy: Lightning Returns and a new Final Fantasy which gamers were asked to "please be excited for," that game will be revealed at E3 for next-gen consoles while a new Thief is also in the works.
