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SQUARE ENIX ANNOUNCES ANNUAL FINANCIAL RESULTS
[ 13 May 2022 ]
Square Enix has announced financial results for the fiscal year ended March 31, 2022 along with consolidated results and a briefing session. The Japanese publisher performed well thanks to Final Fantasy 14 Endwalker and comments on sale of Crystal Dynamics, Eidos Montreal, Square Enix Montreal and associated IP. A complete breakdown can be found on the official Square Enix Investor Relations web site.
According to Senior Analyst at MST Financial David Gibson on Twitter, "funds raised from Crystal Dynamics/Eidos of $300m will not be put into NFT, rather funds will be used to reinforce core business. NFT will have different finance separate."
Highlights from the announcement include: "In the Digital Entertainment segment, the HD (High-Definition) Game sub-segment, the fiscal year ended March 31, 2022 saw the release of such titles as OUTRIDERS, NieR Replicant ver.1.22474487139..., and Marvel's Guardians of the Galaxy, but net sales declined versus the previous fiscal year, which had seen the launch of such titles as FINAL FANTASY VII REMAKE and Marvel's Avengers."
"Net sales rose year on year at the MMO (Massively Multiplayer Online) Game sub-segment due not only to a sharp rise in the number of monthly paying subscribers for FINAL FANTASY XIV, but also to the release of an expansion pack for the title. The Games for Smart Devices/PC Browser sub-segment saw somewhat weak performances from existing titles, but its net sales rose compared to the previous fiscal year due to the application of revised revenue recognition standards."
"The Amusement segment was substantially impacted in the fiscal year ended March 31, 2021 by the temporary closure of amusement facilities in Japan, a move undertaken to combat the spread of COVID-19 in response to the Japanese government's declaration of a state of emergency. As such, the segment's net sales were higher in the fiscal year ended March 31, 2022, and it turned to profitability at the operating income line."
"In the Publication segment, net sales and operating income rose year on year, which saw not only brisk digital sales, but also a solid trend in print media sales, owing in part to the significant popularity of My Dress-Up Darling."
"In the Merchandising segment, brisk sales of new character merchandise based on the Group's own content resulted in higher net sales and operating income in the fiscal year ended March 31, 2022 than in the previous fiscal year."
Earlier this month Embracer Group agreed to acquire Eidos, Crystal Dynamics and Square Enix Montreal and a catalogue of IPs including Tomb Raider, Deus Ex, Thief, Legacy of Kain and more than 50 back-catalogue games from Square Enix Holdings Ltd. Embracer Group, owners of Borderlands creator Gearbox Software, previously acquired Dark Horse Media, publishers of the Tomb Raider comic book series starring Lara Croft.