Square Enix has said that it plans to create and consider acquiring new studios in order to strengthen its in-house development capabilities. During a financial briefing for the fiscal year ended March 31, 2023, the company said that it wants to bring “talented external development resources into the group.”
Square Enix sold a number of studios and IPs to Embracer Group in 2022
Squre Enix said that it will consider mergers and acquisitions and acquiring minority stakes in external studios alongside creating new ones. This may come as a bit of a surprise to some considering the company sold a number of its studios and IPs to Embracer Group exactly a year ago.
In May 2022, Square Enix cited changes in global business environment as one of the main reasons for offloading Western operations including Crystal Dynamics and Eidos Montreal.
In its presentation last week, Square Enix also said that it will step up its recruitment activities, and hire more developers and engineers “to develop not only HD and smart device games but also content for future cross‐platform offerings.” Square Enix often refers to its AAA console/PC games as HD titles.
In the same presentation, Square Enix confirmed that its “major” new games, including Forspoken, did not perform according to expectations.
