Today Square Enix published the transcripts from the latest financial results briefing, including interesting insight into Final Fantasy XVI’s sales.
During the Q&A session, recently appointed CEO Takashi KIryu was asked how initial sales of Final Fantasy XVI (3 million copies in the first week) compared to expectations and how Square Enix plans to expand them further going forward.
Kiryu-san mentioned that sales are in line with the company’s expectations, contradicting previous press reports alleging that they may have disappointed.
This achievement was in line with our expectations. To expand sales, we have planned a variety of PR activities and other initiatives to encourage more of the growing PlayStation5 installed base to play the title.
Interestingly, Kiryu-san mentioned that he would like to identify existing IPs that can be upgraded to AAA status rather than relying only on creating new IPs.
I want to improve our profitability. I see ample room for improvement in our operating profit margin and would like to start by working primarily on our HD games.
In addition, rather than solely attempting to create brand‐new IPs, we intend take a nuanced approach to investment whereby we also identify existing IPs with the potential to be upgraded to AAA status, taking ROI into account as well. In so doing, we hope to establish greater depth to the layers of our portfolio.
During the same Q&A session, Kiryu-san also explained that it’ll take a “fair amount of time” to see the benefits of the sale of many of Square Enix’s western studios.
Final Fantasy XVI is currently available only for PS5, but a PC version is in development alongside DLC content.
If you’d like to read more about the game, you can take a look at our positive review in which our Andrew Stretch described the game as “everything he could have hoped for and more” and “a deep story and fully fleshed out world that you’ll want to be protecting.”
You can also enjoy our interview with Yoshida-san and art director Hiroshi Minagawa.