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Square Enix to shift its business to focus on “key franchises and studios”
Square Enix is withdrawing from its business ties to Hitman developer IO Interactive to focus “resources and energies on key franchises and studios,” the company announced in a financial statement.
Gamers will notice little impact right now, as Square has opted to search for new investors for the studio, rather than shutting its doors completely. While news has shaken things up at IO Interactive, the studio says it will continue doing what it does best.
@JamesGHBray @ynakamura56 @dannyodwyer Thanks for tweeting us. There’s a lot going on right now and we’ll have more to say at a later point. For now, back to making games.
— Io-Interactive (@IOInteractive) May 11, 2017
But it does usher in a change of winds and shows that Square Enix has enough on its plate to refocus its priorities, despite posting impressive financial numbers in its year-end update.
The news comes off the announcement of record-high net sales and increased operating income, thanks to blockbuster successes, such as Final Fantasy XV and the PlayStation 4 release of Rise of the Tomb Raider.
Withdrawing from IO Interactive will produce significant losses for Square Enix, as the company recorded 4.898 billion yen ($43 million USD) in losses related to its withdrawal.
We will have more information about IO Interactive and the future of the Hitman series as it becomes available.