Square Enix's Wada looks to India and China for acquisitions

Square Enix's Wada looks to India and China for acquisitions
Michael French

By Michael French

February 2nd 2008 at 9:46PM

President of famed Japanese developer/publisher eyes potential partners in the East

Square Enix president Yoichi Wada has followed up on his company's talk of expansion into Europe by naming India and China as other key locations for acquisitions to aid growth.

Speaking to Bloomberg, he said: "Acquisitions and alliances will be the cornerstone of our growth strategy this year and the next. We are an entertainment content provider, so you won't see us buying business software or food and beverage companies."

The company isn't just talking up potential, either - the firm bought fellow Japanese developer Taito two years ago, and plans to repeat that pattern.

Wada explained: "The cycle of buying new companies, improving earnings and acquiring again comes on average every two years. It's been two years since we bought Taito. I think it's time for the next round.''

The firm expects to report better income this financial year and a profit of 350bn Yen (compared to last year's 351m Yen loss).

Wada has regularly talked about acquiring companies outside of Japan and forging new business partnerships - he made similar comments back in September.