Yoichi Wada Steps Down As Square Enix President

-Marcus Lawrence

Some sad but hopefully positive news stemmed from Square Enix earlier today. Yoichi Wada, president and representative director for Square Enix, stepped down following the company’s financial forecast.

The full efffect of Wada’s resignation is to take place in June and Yosuke Matsuda will take over in his place. Matsuda joined the company in the year 2001.

The whole reason for the change is the financial revision of the company, which reveals Square Enix now “expects to incur extraordinary loss in the settlement of the accounts for its fiscal year ending March 31, 2013.” 

These losses come from the not-so great sales of major console games here in North American and in Europe. The decline of the company’s arcade machine business also influenced the decision as well considering how arcades aren’t functioning to optimal levels anymore.

Maybe with this new change in command, things will turn out differently for Square Enix in the coming months.