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Square-Enix Q1: losses cut by 75%, company still in red

Square-Enix has posted its first-quarter financial results for the three month period ended June 30. The company remains in the red despite culling its year-on-year losses by 75%.

GI.biz reports that for the quarter, Square-Enix posed a loss of ¥493 million ($5 million), which is a 75% reduction over its ¥2.01 billion ($21 million) loss for the same period last year.

The company has also posted an extraordinary loss - those suffered under unusual circumstances - to the tune of ¥1.6 billion ($16.2m).

Square's report explains, "In response to the latest environmental changes in the game industry, the Group has implemented a change in its development policy, and conducted a comprehensive review on work-in-progress game titles for the three-month period ended June 30, 2013."

This suggests that projects have either been cancelled or shifted somehow. The report doesn't offer any further insight.

Regardless of the loss, Square's full-year projection remains at between ¥3.5-6 billion.

In software, the company had no big releases in the quarter, but social and browser titles such as Sengoku IXA and Kaku-San-Sei Million Arthur performed well. The company's digital entertainment made ¥115 billion in Q1 revenue, while its amusements arm made ¥9.7 billion.

More will follow.

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Dave Cook avatar

Dave Cook

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Dave worked on VG247 for an extended period manging much of the site's news output. As well as his experience in games media, he writes for comics, and now specializes in books about gaming history.

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