Square Q1 - Profit decrease of 62% due to lack of major releases

Square Enix posted its financial results Q1 of its current fiscal year, and due to a lack of major title releases, the firm reported a 62 percent decrease in profit to ¥690 million ($8.8 million) compared to ¥1.8 billion ($22.9 million) for the same period in 2010.

Despite the quarter’s results, Square noted growth in its mobile and PC sector, thanks to the titles Nicotto Town and Sengoku Ixa.

"In a quarter without major title releases, our group's sales and profit were lower compared to the previous fiscal year, “ said president Yoichi Wada.

"At the same time, however, we are making solid progress toward our targets for the full fiscal year ending March 2012. As we stated at the start of the year, we are focusing all efforts on rebuilding the group businesses during the current fiscal year toward generating a substantial earnings recovery from the fiscal year ending March 31, 2013 and beyond."

Previously announced upcoming releases for the full fiscal year ending March 2012 include: Deus Ex: Human Revolution, and Final Fantasy XIII-2 for Europe, Japan and the US.

In Japan, the firm will release Dragon Quest 25th: Anniversary which features Dragon Quest 1-3,
Final Fantasy Reisiki, Slime MoriMori Dragon Quest 3: Dai Kaizoku to Shippo Dan and Itadaki Street.