Final Fantasy Developer Square Enix Canceled $140m Worth of Games and Content

During a company board meeting, Square Enix, the developer of Final Fantasy, made the decision to cancel $140 million worth of games and projects due to “extraordinary losses”they had recognized. On April 30, 2024, the developer released a warning statement for investors and related parties, providing details about the cancellation.

Square Enix has stated their intention to reevaluate their strategy for developing high-definition (HD) games. They specifically aim to be more discerning and concentrated in their distribution of development resources.

Screenshot of Cloud in Final Fantasy 7. — Image via Square Enix

During a thorough review with fellow board members, Square Enix estimates that it will record approximately ¥22.1 billion (equivalent to $140.9 million at the time of writing) in content abandonment losses for the fiscal year ending in March 2024.

The announcement of canceled and adjusted games has been deeply disappointing for both Square Enix and fans eagerly anticipating their release. The company has not yet disclosed any specific information about these projects, but it is hoped that by reducing the number of games in development, Square Enix will see improvement in its financial status in the coming year as it prioritizes and manages its resources more effectively.