Square Enix Holdings Co., Ltd. SQNXF expressed its intention to establish new studios and acquire existing ones.
Square Enix is a Japanese multinational holding company, production enterprise and entertainment conglomerate.
According to IGN, the developer behind RPG franchises, such as Final Fantasy, Dragon Quest, Star Ocean and Kingdom Hearts, the company unveiled its ambition to pursue mergers and acquisitions during a recent earnings report.
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"Consider M&A, creating new studios, and taking minority stakes to bring in more external development resources," Square Enix said in the report.
Furthermore, the company revealed its plan to augment its engineering and development teams by recruiting additional talent with the objective of developing "not only HD and smart device games but also content for future cross-platform offerings."
The earnings report also shed light on a decline in sales and profit during Square Enix's 2023 fiscal year. The company acknowledged that the absence of expansions, such as the previous year's DLC for Final Fantasy XIV, contributed to this downturn. Nevertheless, Square Enix is optimistic about a more robust fiscal year in 2024.
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