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New Square Enix president plans to review entire company

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Yosuke Matsuda, the newly announced president of Square Enix, will review the company in its entirety following the reveal of a net income loss of 13 billion yen last month.

Matsuda, who replaced Yoichi Wada as president of Square Enix soon after the company's release of financial statements, talked about his plans for the company in a recent holdings briefing session.

"After having succeeded the important role as the president, I plan on reviewing all Square Enix duties, business and assets on a zero-based budgeting standpoint," he said in a statement translated by Siliconera. "Due to the radical change of environment, I'd like to fundamentally review what works and what doesn't work for our company, then cast all of our resources towards extending what makes us successful and thoroughly squeezing out what doesn't.

"As far as a concrete plan on what to expect from us, I will further explain it on another briefing session in the near future, so I kindly ask for your patience. Thank you for your support."

Matsuda went on to describe plans of making CEO of Square Enix Europe Phil Rogers the new director of Square Enix Holdings, while Wada expressed that he will still be part of the company despite his resignation as president.

"As an employee, I believe it is my duty to help the company and give proper results from it. I will be retiring from the line of management, but I plan to work on site as a way to pay my debt to the company," he said.

Last month it was revealed that Square Enix's three most recent launches of major console titles Sleeping Dogs, Hitman: Absolution and Tomb Raider all sold at least a million copies, but missed the company's sales targets.