The 2003 merger between Japanese game developer Square and publisher Enix was a "complete failure," former Square Enix president Hisashi Suzuki said in a tweet posted earlier today.
According to Suzuki, who was with the company from 2000 to 2005, the total value of publicly traded Square Enix stock has not surpassed its value prior to the merger. He also mentioned high development costs as a contributing factor to the company's stunted growth, citing a 5.4 billion yen deficit last month.
"The merger was a complete failure," he tweeted. "There's no vision for the future."
The company recently posted a $13 million loss due to "sluggish" console game sales and "delays of social game service launch, which resulted in [a] decrease of service revenues and up-front expenditure of development costs."
Last month Square Enix signed a long-term licensing agreement for use of Unreal Engine 4 and published a number of casual mobile titles for iOS and Android.
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