Final Fantasy, Kingdom Hearts, Dragon Quest… Fans of manga and video games certainly know these series. They were developed and published by Square Enix, a leading Japanese video game company. To celebrate this beginning of the year, its president Yosuke Matsuda has published a letter for the attention of his collaborators and customers.
Structural reform was inevitable
Like many companies around the world, Square Enix has had to adapt to the current economic conditions. In his New Year’s letter published on 1um January 2023, Yosuke Matsuda refers to significant price inflation. Add to this the war in Ukraine which inevitably led to the collapse of share prices. Not to mention the collapse of the financial markets (including the cryptocurrency market).
To deal with these various events, Square Enix had no choice but to implement structural reform. “We are undertaking a major overhaul of our development and publishing organizations, focusing on our current core digital entertainment business,” Matsuda explains in the letter. During the year, Square Enix sold three studios: Crystal Dynamics, Eidos-Montreal and Square Enix Montreal.
Still in this process of structural reform, the Japanese video game company intends to reconfigure its portfolios of titles. The goal: to strengthen its internal development capabilities.
Square Enix president mentions Blockchain 14 times in a letter
“As regards the new business areas, we have identified three priority investment areas within our medium-term business plan. Of these, we mainly focus on blockchain entertainment, to which we have devoted aggressive investment and business development efforts,” Matsuda points out in his New Year letter.
In 2022, Square Enix announced the launch and development of several original IP-based blockchain games. To stimulate the growth of this ecosystem, it has even created a Web3 study group. Naturally, Matsuda did not fail to mention the main milestones of the cryptosphere. By this we mean the fall of FTX and the volatility of the NFT market.
For some, the New Year’s letter from the president of Square Enix vaguely resembles those previous letters (without really specific goals). Sure, he mentions blockchain several times in his speech, but it’s already a booming market in Japan. Furthermore, the Japanese government intends to put in place strict regulations to police this market.
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My name is Ariela and I’m 31 years old. I have been working in the field of web writing for the past 7 years. I only discovered trading and cryptocurrencies a few years ago. But it is a universe that interests me very much. And the topics covered within the platform allow me to learn more. A singer in my free time, I also cultivate a great passion for music and reading (and animals!)