Monday 21st August 2017,
Project Crystallis

CEO Yoichi Wada Resigns from Square-Enix


CEO Yoichi Wada resigns from Square-Enix as part of the company’s reformation following their financial revision, which was published earlier today. Wada is going to be replaced by the current representative director, Yosuke Matsuda, scheduled to happen late June during an official meeting for shareholders, and later by Square’s Board of Directors.

Wada’s resignation followed Square-Enix’s release of their financial revision document of consolidated results forecasting “extraordinary loss” in the recent fiscal year’s ending this March 31, 2013. The publisher announced plans to start a major restructuring and reformation, expected to result in a loss of estimated 10 billion yen, which roughly equates to just a little over $105 million.

According to the report, ““Square-Enix Holding Co Ltd. (the “Company”) expects that the Company’s representative directors will change. Such change is subject to a resolution by its 33rd annual general meeting of shareholders to be held in late June, 2013, and a resolution by its board of directors meeting to be held after the said meeting of shareholders.”

You can read the report here, along with a quick summary here.

The numbers found on the company’s report displayed abysmal figures, which have led to many project cancellations. Fans have been split on Wada’s management for the last decade, with some revering his decisions as wise from a business standpoint, while others feeling insulted by the company’s perceived “selfishness” for profitable gain. For much of Square’s supporters and Project Crystallis’s followers, the real question is how these reports factor into the future of the Final Fantasy series; specifically the campaign’s pursued titles, Final Fantasy Versus XIII and Final Fantasy Type-0.

With Final Fantasy X HD Remaster on the PS3 shipping with X-2 HD Remaster (which fans consider a great move), you might be thinking, “What’s going to happen next?” Tell us what you think in the comments section below.


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  • Shin00bi

    Well they should’ve released triple A japanese games in America and Europe. People want Type-0 in English, the fact that fans are translating it now shows it. I think they spend a huge amount of money on Japanese games but much less on English games. They should release more games world wide to expand their market.

  • TakKuroda

    I am sad to see Wada go, but I am excited for what may come in the future! I do not recognize Yosuke Matsuda. What has he done, other than financial things?

  • 3 things to save SE

    KH 3
    FF type-0
    FF Versus

    • Xx_Kares_xX

      you forgot Bravely Default

      • AnbaLeumas

        Not really lol.

        • Xx_Kares_xX

          Yes really, all three of the above titles play virtually the same, if square is really going to ‘save’ themselves they still need to appease the ‘hardcore’ turnbased RPG fans as well.

      • Ah Yes, final fantasy 4 warriors of light that should’ve been. I Wsh I could play that game, the battle theme alone gives me them goosey bumps. but I agree that SE needs to appease the rpg crowd … most of Square and hell, Enix’s fans are RPG lovers, not that we don’t love tomb raider or Himtman … but I wonder if they realize the power of their rpgs …

        • Xx_Kares_xX

          Yeah… 4 Heroes… didn’t do it for me… but Bravely Default looks amazing, the loss of money by Square is leading to cutbacks though, which means we are even less likely to see a release of this game, because Square, being stupid, is going to take the loss as, “well, western gamers just don’t like RPGs.. OH WELL!! MORE TOMB RAIDER!!!!!!!! instead of actually listening to what the fans are telling them they want. It costs close to nothing to have a team translate a game… if they are REALLY worried about losing money, they don’t even have to redub it in english, encode subtitles and then sell the game digitally. Boom: Right there you just saved a crap load of money on voice actors and distribution. Yeah I’d prefer a hard copy, but hey, a digital copy is better than not getting it at all.

          • HAHA 4 warriors, I actually enjoyed it you know, far from perfect but it was brutal and I loved that. And yeah, they forgot how much final fantasy actually sells in the west … FF 13 sold a shizz load, but because they are bugeering around with the FF brand, fans are losing faith and therefore they going to lose money (FF type 0 and versus would do so much good!). There are so many RPG fans craving bravely, it’s just not funny, a digital release is not only feasible money wise but will also help in gaining some of that lost trust back

          • Xx_Kares_xX

            I’m going to try and replay 4 heroes soon… I loved the art style, but I couldn’t get over the fact that I couldn’t even choose the target of my attacks. I want Type-0 far more than I want Versus XIII… and the annoying thing about that is they SAID they were giving us the game and then just took it away x.x

          • The art style and music was so awesome and did they say they not doing the localization any more? or is it just in limbo … type-0 looks so awesome, I loved the demo … maybe HD version on PS 3 … lol I’m hopefull

          • Xx_Kares_xX

            The localization of which game now? I’m confused… either way I don’t trust anything square says until I have the game in my hands @.@

          • type-0, I remember they said they bringing the game over to the west, I haven’t heard anything about it being cancelled.

          • Xx_Kares_xX

            Oh yeah… they cancelled it a long time ago.. dude it’s been almost two years since the game came out in Japan and we’ve seen nothing about it… it’s not happening.

  • SirAuron14

    I have no idea who Yosuke Matsuda is so i dunno if he will make games be done faster and more games shipped world wide on the same month. I hope this is for the better.

    • He produced Unlimited SaGa and was involved in the development of the original Dissidia and Dirge of Cerberous. He mainly does financial management stuff though, he used to work for a life insurance company doing the same thing.

      • Xx_Kares_xX

        Wow way to show his awful titles (with the exception of Dissidia) He was also a large part of Final Fantasy XII’s design.

        • Really? I didn’t find that listed online. Its missing from his IMDB page. Thanks for telling me!

          • Xx_Kares_xX

            I’m sorry… I may have gotten him confused with somebody else x.x go me. I know that the person behind the first three SaGa games (AKA, Final Fantasy Legend) later became the head of FFXII after the game was about half completed… if that’s the same guy then I was indeed partially right.. if not.. well sorry about that x.x

  • hmm, interesting hopefully we shall see the games we were promised come out this year lol. I can’t wait for E3 in june it will be something we will remember a long time if they decide to rebrand versus or bring type 0 over here or release a kingdom hearts 3 trailer; all of our eyes will be on them this year so lets hope they bring their A game.

  • Xx_Kares_xX

    Fans consider the HD bundles a great move? It’s just another blatant cash grab, and the textures actually look WORSE, not better. x.x the ONLY benefit to these is getting the international version, so congrats, you are paying $40 for a couple extra boss fights… this is WHY companies keep doing this crap with DLC, Online DRM, kickstarters, Crappy Sequels and re-releases with no work put into them.. because they KNOW dumb people will continue to just hand them their money x.x

    • You know, a ton of people will buy the FF X HD remake, but it’s testamant to the immense love that people have for final fantasy. call it stupidity or call it whatever, despite everything, people still love final fantasy.and if Square would realize this, and stop insulting fans (all the bravest) they would find their salvation to be closer than they think…in the hearts of final fantasy and rpg fans

      • Xx_Kares_xX

        It’s true, to be honest I will have to fight the temptation to buy the games myself, but I refuse to on principle because of the state of the industry… (not to mention in my opinion the HD ‘improvement’ actually made the game look worse… all the characters look like they are made of plastic and all it really did was get rid of the polygonal edges… and it actually made the character’s faces LESS expressive.. at least with KH the plastic look fits the cartoony artstyle… here it’s just sickening…) I love final fantasy… always have (well… until XIII came out…) but buying the remasters isn’t going to tell square that we want more RPGs.. it’s going to tell them that we want more re-releases with nothing of significance added to them.

        • haha that HD remake really doesn’t look any good hey, I’m not against re-releases. I mean I would love maybe an HD Dissidia or Crisis Core (Okay I would kill for an up scaled Crisis Core) , but I agree with you though, Re-releasing is not enough…it’s FAR from enough…we need better RPGs (btw I think the Chaos Ring series is beyond awesome, we need more of those type rpgs). I’m with you on that stand though. But I do think it’s nice for newbies to experience the good side of Final Fantasy

          • Xx_Kares_xX

            I have to correct you here for a second. This is not a remake, it’s a remaster. A remake actually takes some level of effort, they actually have to rebuild things from the ground up. Remakes are respectable and I’ve purchased more than a few myself, especially from the FF series. This is a remaster, meaning they have done NOTHING but bump up the resolution and are reselling it. Seriously they’ve needed to do close to no work.. the voice work was already recorded in english for the original International Version, the bosses are already coded. The ONLY thing they had to do was translate a few attack names and maybe a couple lines of dialogue in text for the game. As far as the arguement for new gamers to play the games… fair enough I guess, except anyone who’s curious can go pick up both FFX and X-2 for about $20 at any bargain bin game shop. The hilarious thing about X-2 being added is that most people are bashing the inclusion when it’s essentially a free bonus x.x. I also think it’s funny how much Flack FFX-2 gets… yeah the dialogue is humiliatingly bad, and the story contradicts and ruins much of the plot of the original game, but it had one of the best battle systems in the entire series.

          • Hmm, indeed you speak the truth, it is just an HD remaster, FF 3 and 4 DS were remakes. I’m one of the few that enjoyed the cheesiness of the story and the battle system was similar to FF13 in terms of real time job changing, which I feel worked briliiantly

          • Xx_Kares_xX

            The system worked far better than that of FFXIII, there were far more options and you actually controlled the combat as opposed to the game playing iteself for you.

    • Lenku

      I think you misunderstand – it’s not that the HD Remaster is a great move (as I don’t care for it myself), but rather that instead of just getting X HD, they’re also adding X-2 HD – if they’re gonna do an HD Remaster, at least they’re giving us 2 games instead of one.

  • AnbaLeumas

    Now that Square Enix’s main focus will be about making money, they can start speaking about the main games fans have been waiting for. Make us happy Square.

  • Guest

    I agree with Tim Lane this is a make it or break it year for square.

  • bleachedsnow

    Maybe things will change for the better after this? *crosses fingers for Type-0 and Versus and Bravely Default*