Square Enix has said it intends to acquire and establish more overseas studios during the company’s latest earnings call.
As noted by GamesIndustry.biz, the call took place over the weekend as the company announced their FY2022 results. Among their announcements, the Japanese publisher said it intends to “boost game development capabilities by establishing new studios”. This is despite selling Crystal Dynamics, Square Enix Montreal and Eidos Montreal to Embracer Group for $300 million USD earlier this month.
In the company’s ‘Medium-term business strategy progress’ update, Square Enix also declared that it wanted to improve its overseas operations. As Axios’ Stephen Totilo noted, the company said it wanted to “better align overseas publishing function with organisation in Tokyo.”
Later in the call, Square Enix reiterated some of the other avenues it wanted to focus on previously mentioned in the immediate aftermath of the sale. Namely, that it had “accelerated” investment in “focus fields” of AI, blockchain and the cloud. This included a brief nod to its NFT business, which it apparently started trialling earlier this year through March 2022.
Along with the now-former Square Enix studios, Embracer Studio picked up “over 50 IPs” in the sale earlier this month. They included Deus Ex, Thief, Legacy of Kain and a brand new Tomb Raider game, currently in the works.
Square Enix, which recently sold off three studios, hopes to establish some new studios pic.twitter.com/DoeIC0NZtX
— Stephen Totilo (@stephentotilo) May 13, 2022