Square Enix merger 'a complete failure'
Thursday, 8th November 2012 at 6:52 am
Former Square president says company has 'no vision for the future'
The former head of Square has spoken out against Square Enix after the company posted a quarter of losses, saying the company had "no vision for the future".
With losses of nearly 5.5 billion yen, the Japanese Tomb Raider publisher has taken a comparative dive in the stock market, and now posts a market cap of 124 billion yen.
Former boss Hisashi Suzuki pointed out that when Square merged with Enix in 2003, the market cap was 150 billion yen.
To Suzuki, this translates to failure.
"The Merger is a complete failure," he said on Twitter.
"There is no vision for the future."
Suzuki concluded with a link to a news article highlighting the losses and high development costs.
The former president of Square is now working as a director at Sega, and served as a director at Square Enix from 2003 to 2005.
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