Former president Yoichi Wada exits Square Enix

By Brenna Hillier, Friday, 19 June 2015 08:08 GMT

One-time Square Enix president Yoichi Wada has left the publisher, having reached the end of his contractual obligations.

yoichi_wada

The industry veteran continues as president of Shinra Technologies, a cloud gaming company, and director of Metaps, a mobile analysis firm.

Wada announced the news in a Facebook post (Japanese), noting that he spearheaded growth of three initiatives at Square Enix – growth in Asia, smartphone and free-to-play games, and cloud gaming.

Wada stepped down as Square Enix’s president in early 2013 following a disastrous financial year of “extraordinary loss” for the publisher.

He stayed on in the role of chairman of Square Enix Tokyo, but with no executive powers.

Wada’s fall from grace came just one year after his resignation as head of Japanese trade body CESA. This itself came just months after a Tokyo Game Show keynote in which he urged the industry to serve new users on emerging platforms but said the core could continue as it always has – something which has certainly not proved true in Japan.

He was replaced as president of Square Enix by Yosuke Matsuda, who famously got up in the middle of a financial briefing and said Square Enix’s long, closed development periods were dishonest and unprofitable.

In the intervening years Square Enix has gotten back on track with a $65 million profit in FY2014. Although its stock fell shortly thereafter due to unpromising 12 month line up, GamesIndustry reports it ended up doubling its profits in FY2015, perhaps due to slow-burn performers like Tomb Raider, which hit 8.5 million sales a few weeks prior.

Sometimes we include links to online retail stores. If you click on one and make a purchase we may receive a small commission. For more information, go here.

Comments