S-E slashes profit forecast, blames Gyrozetter, Sleeping Dogs, and social gaming

Square Enix IR reports issued today cut their FY2013 net profit forecast from ¥9bn to ¥3.5bn, along with a drop in expected total sales from ¥16.5bn to ¥15bn. The profit forecast was already flat for the first half due to heavy expenditures on Final Fantasy XIV 2.0, but a weak Gyrozetter launch (according to a Nikkei article, arcade softness was responsible for almost ¥4bn in losses), disappointing legs on “a major HD title” (almost assuredly Sleeping Dogs), and an unspecified delay in social gaming are cited as the reasons for a ¥5.4bn loss in the first half and the significant cut to whole-year forecasts.


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