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Square President Yoichi Wada resigns following financial revision

Tuesday, 26th March 2013 09:43 GMT By Dave Cook

Square-Enix president Yoichi Wada has resigned from his post following the company’s revised financial forecast, published earlier today. Representative director Yosuke Matsuda is expected to be elected into the role following the company’s next meeting in June this year.

Wada’s resignation was posted as part of the Square-Enix financial revision document. You can read it in full here and play catch up on the company’s grim financial revision here.

The report states, “Square-Enix Holding Co Ltd. (the “Company”) expects that the Company’s
representative directors will change. Such change is subject to a resolution by its 33rd annual
general meeting of shareholders to be held in late June, 2013, and a resolution by its board of
directors meeting to be held after the said meeting of shareholders.”

The document adds that the decision of the June election will be made public around “late June, 2013″.

What do you make of the above.

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25 Comments

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  1. OmegaSlayer

    Gone is the man who killed Squaresoft.
    A glass of champagne for all the gamers.

    #1 1 year ago
  2. Greek God

    YEEEEEEEEEEEEEEEEEEEEES!!!!!!!!!!!!!!!!
    Now back to glory SE

    #2 1 year ago
  3. Dave Cook

    @2 how do you know this will change anything?

    #3 1 year ago
  4. Greek God

    Because Wada made a lot of stupid decisions this gen.

    #4 1 year ago
  5. Blue Oni

    Good riddance.

    #5 1 year ago
  6. Lengendaryboss

    You guys really think a depature of man can get Square Enix “back to glory”?

    #6 1 year ago
  7. atlans89

    There is 2 left to be rid off.

    #7 1 year ago
  8. Fin

    @6

    If there’s one thing the internet teaches us, it’s that one person is always responsible for an entire company’s problems.
    Get rid of that person -> company returns to being the best evaaaaaaar.

    #8 1 year ago
  9. Gnosis

    @8: This. Because it’s so much easier.

    I’m gonna wait and see. It’s hard to imagine that SE now wondrously starts making incredible games. Rather expect them to keep on going the same way they do now.

    #9 1 year ago
  10. G1GAHURTZ

    My old boss has gone…

    Poor old Wada san.

    #10 1 year ago
  11. Clupula

    Well, this can potentially be great news. This man made bad decision after bad decision and pretty much tarnished the name of Squeenix, who were probably one of my absolute favorite publishers during the Sakaguchi days. I am glad to see him go. I just hope his replacement is not worse.

    Personally, I would have liked to see someone creative, like Nomura, in charge again, but whatever. This is a good first step.

    #11 1 year ago
  12. Francis O

    @11 we can only dream of a man like Nomura stepping into Square Enix’s CEO position. It makes too much sense, so I doubt it would happen. There just going to find a guy who can expand cell phone games more.

    #12 1 year ago
  13. salarta

    A month ago, this would have meant something.

    Now, it’s a case of winning the battle but losing the war. It doesn’t matter who’s running Squeenix, the company’s IPs will get treated worse and worse. The only thing that will change is that now Squeenix knows all it takes is marketing out the ass and spinning a game the right way to get people to buy it no matter how the IP is treated in the actual product.

    They may as well keep him on board at this point. He can’t make things any worse than consumers have shown they want the industry to be. But then, maybe the next person will focus on tearing every IP to shreds, since that’s what the people want. Hopefully we at least get boobs to ogle out of it. No sense doing it half-assed.

    #13 1 year ago
  14. OlderGamer

    The games market changed. Sure wada wasn’t great. But I think it was more that the west became more important and the east couldn’t roll with the changes and keep pace. This isn’t just a SQE problem, it is common JPN problem. My guess is many other people would have done the same type of job Wada did given the same position..

    I think they should lower their aim, stop trying to compete with big budget western games. Aim for the 40usd target, NO DLC(that is important). And also I think SQE should focus more efforts on JPN.

    #14 1 year ago
  15. OmegaSlayer

    For me SquareEnix literally lost his face with the consumers with FinalFantasyXIII going multi and with few support on PS3.
    Many fans started to think the game would have been gimped, delayed and so on (and so it was since Square is still using assets in new games).
    Then they lost their face with Versus, they had the chance to remake VII and put out a KingdomHearts3 and they didn’t.
    The Core studio of Squaresoft has released only 2 games in 7 years for the PS3, the brand they supported more in the last 15 years.
    The console where the majority of their fanbase is.
    That’s how you shoot yourself in the foot.

    #15 1 year ago
  16. salarta

    @15: I don’t think going multiplatform hurt the series or the company, I think the lower qualities of work caused it. Squeenix hadn’t learned the lessons they needed to learn from The Spirits Within: don’t rely primarily on the graphics to sell it, and don’t slap names onto things where they don’t belong. Increasingly over the past decade, Squeenix has been generating ideas for brand new IPs, then forcing those ideas on existing IPs and their characters. It happened with every single product where Toriyama was a director or writer, and lately it’s been cascading over to Eidos too.

    Squeenix also has developed a bad habit of openly lying, making excuses and ignoring criticism unless doing so could ruin the company. Again, mostly projects where Toriyama is involved. The clothes-ripping-off mechanic was for “realism” and not for sex appeal in a game full of sexual innuendo, fetish costumes and a shower scene on the verge of softcore porn. Dungeons “had” to be linear to serve the story, and HD towns “couldn’t” be done on current consoles due to “difficulty.” While Toriyama is the common thread on each actual project, such behavior was ultimately Wada’s fault for allowing a corporate atmosphere where it was not only acceptable but seemingly encouraged.

    #16 1 year ago
  17. Clupula

    @15 – Completely agree. Wada had a weird hard-on for the 360 at the beginning of this gen and it did nothing but create bad faith among their fanbase.

    @16 – Yeah, because Parasite Eve titles never had shower scenes before. Gimme a break. You’re being ridiculous with your weird Aya fetish. You’re like this guy: http://www.avclub.com/articles/the-internet-finally-reaches-its-apex-as-man-marry,94206/

    They’re not real women. Stop complaining about Toriyama besmirching your girlfriend. Personally, I wish the Third Birthday had been on PS3, because I would have bought it day one.

    #17 1 year ago
  18. Lengendaryboss

    @8/9 Good to know. But i personally like some games Square Enix put out like Sleeping Dogs and Tomb Raider (Even though i not a fan of Tomb Raider).

    #18 1 year ago
  19. Clupula

    @12 – Christ, what is going on here?!? You and I are actually in complete agreement about something! I suspect the end is quite near for the world.

    #19 1 year ago
  20. salarta

    @17: My only answer to you is that a naked body is interpreted differently when you’re sitting in an art class to draw from a model, compared to when you’re sitting in front of a computer looking at a pornographic website.

    #20 1 year ago
  21. Clupula

    @20 – Which means nothing. Every Parasite Eve title has had a shower sequence and I don’t recall Aya taking a dildo or another person into the shower with her in the Youtube videos I’ve seen of it, so for you to call it pornographic says more about you than it does about the game.

    Before you click “POST COMMENT,” maybe you should take the time to read your posts and see how much like a jealous boyfriend you sound. Like Toriyama made your sweet, innocent Aya impure and now the wedding is off. And now you hate him because he’s the worstest man ever.

    You are part of the reason why games cannot mature, to be quite honest. Because a scene that would not have been out of place in a mainstream movie or a pay-cable drama show is somehow softcore pornography to you. We can’t ever get past the “Oh no, sideboob is EVIL!!!!” until people like you learn that your own personal hang-ups are the problem.

    Is Mass Effect pornography? You see more of Liara than you do Aya. And there’s even girl-on-girl kissing! Is Heavy Rain pornography? I can guarantee you that you see more in Ethan and Madison’s individual shower scenes than anything in the Third Birthday. Is that porn? Grow up! Seriously!

    #21 1 year ago
  22. salarta

    @21: Your suggestion is that a cinematic that heavily emphasizes a woman’s curves, including a close-up of her cleavage and a below side view of her underboob and buttocks (while she visibly rubs her hands over her breasts), combined with several grunts and moans that all culminate in a fogged view of her naked body as she suggestively leans into a glass door, does not come to the very border of softcore porn just because the woman does not cross the line by bringing a dildo or a person in there with her. Bizarre.

    Your post is grounded in exaggeration. You are taking your opinion of me, rather than what I am actually like, and exaggerating it into absurd proportions. And this… accomplishes what? What does that do for you or anyone in the grand scheme of things? If the way Aya was presented in 3rd Birthday matched who she has previously been shown to be, I would have accepted it. That is the simple fact of it, and why I thoroughly enjoyed Bayonetta yet would have balked if it was Aya in that role.

    Your hypothesis is that I am part of the reason games cannot mature, because I refuse to accept seeing existing IPs and characters turned into things they are not and were never meant to be solely because the companies would rather use familiar names and faces to sell more copies than actually create brand new IPs for their ideas. To be willing to accept such premises if they were given as brand new IPs is not enough; true maturity by your implications can only come from forcing changes even if they do not fit. I am not sorry for resisting such radical and unnecessary changes. Using Sesame Street as an example, it is one thing to adapt the show to make Cookie Monster into a better model for kids. It is another thing entirely to cancel Sesame Street as a children’s program and relaunch the entire brand as a hardcore sexual fetish franchise for adults.

    If it is immature to hold enough respect for existing IPs and characters that I will only accept products that demonstrate appreciation and respect for the two, then call me a child. I would rather be an idealistic child than a greedy, narcissistic adult.

    #22 1 year ago
  23. Clupula

    @22 – While I gladly accept the title of Greedy, narcissistic adult, I don’t quite see how not being upset by sideboob in a videogame and a woman rubbing her breasts in a shower qualifies me as that (ever watched a woman in a shower? They do tend to rub their breasts in there because that’s usually the quickest way to clean them, which is what a shower is usually for. If Aya started running her hands between her legs while biting the faucet, I’d be more accepting of your theory, but she does. The most she does is put her hands on the sliding door of her show and look exhausted). I mean, I don’t recall having any part in the production meetings for the Third Birthday, so I’m not quite how that would make me greedy, and unlike Tameem at Ninja Theory, I didn’t turn Aya into myself, so not sure how I’d be narcissistic.

    But whatever, even though you’re overreacting and being a Puritan, it’s completely off topic anyway. Putting a clothes-ripping mechanic into a game did not have a single thing to do with why Wada ended up resigning. You’re just ascribing your own personal distaste of something within a game to a subject that has nothing to do with that.

    People were talking about real reasons for this and then suddenly you started foaming at the mouth about how a fictional character’s PG-13 non-nudity was responsible for ruining the company’s reputation, when in reality, there are other, actually valid reasons that have nothing to do with Toriyama and everything to do with Wada. Hmmm…turning the whole thread into being about yourself…that sounds…

    Why, that’s downright narcissistic!

    #23 1 year ago
  24. salarta

    @23: I was not thinking of you when I said “greedy, narcissistic adult.” I was thinking about the people at video game companies behind several certain projects in recent years. Sorry for not being clear enough about that.

    I was going to leave my prior comment as the last I was going to say on the subject, but I felt I needed to apologize for the unintended slight.

    #24 1 year ago
  25. Vice

    Salarta, shut up… Boobs are good. Sexy characters are good. I enjoyed Tomb Raider with super cute busty Lara A LOT and I has bought it. I will NOT be buying some game with male protagonist, with no eye candy to add to game’s experience. And yes, as gamer who’s been playing and loving both Parasite Eve’s, I can say that it had a shower scene in second game. Unfortunately it didn’t show any real nudity, just some skin…
    In any case, grow the fuck up dude.

    #25 1 year ago