Square Enix recently held their financial results briefing for the end of fiscal year 2017. Overall, they did quite well, especially with the release of Final Fantasy XV in November 2016. While the company recorded record-high net sales and income, they made one extremely peculiar announcement. Square Enix is selling IO Interactive, the developers of the Hitman franchise.
Here’s the official statement:
“In addition, the Company announced that it has decided to withdraw from the business of IO INTERACTIVE A/S, a wholly-owned owned subsidiary of the Company and a Danish corporation, as of March 31, 2017, and that the decision has resulted in booking of the extraordinary loss amounting to 4,898 million yen in the financial results for this Fiscal Year.”
This announcement raises questions about what exactly is happening inside Square Enix. To be fair, Tomb Raider seems fine and we know an Avengers game is in the works. However, with Deus Ex put on hold, Square Enix seems like they are moving away from what were once huge franchises in their arsenal.
This is certainly extremely odd, especially with how established the Hitman franchise is, not to mention what a critical success it was. It also throws into question whether more seasons with be released? Plus also begs the question of what will now happen to IO Interactive? Hopefully we’ll find out more soon and our hearts go out to the developers affected by this decision.