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Square Enix planning to continue 'revitalizing existing IP'

Bring on the remakes.

In Square Enix's new Annual Report, the company details its earnings and successes over the current year, as well as its plans and business strategy for 2016. The first point on that list? Continuing to remake older IP for the current generation.

Under a section entitled "The Way Forward," the company elaborates on its initiative to "[revitalize] existing IPs." Square Enix plans to "take an IP developed for earlier generations of game consoles and recreate it for the latest consoles," with an additional emphasis on bringing these older titles to smart devices.

The company is also open to developing these games for virtual reality platforms. The primary focus is to allow fans "to relish reliving past experiences with a freshness that only the latest in technology can provide."

Final Fantasy 7 is likely the first title that comes to mind reflecting Square Enix's endeavor to update its older games and franchises for a modern audience. The PlayStation 4 remake of the classic PlayStation game was announced as part of Sony's E3 2015 press conference in June.

Other Final Fantasy games, as well as those from the studio's other franchises, have seen current gen ports or remakes in recent years as well. These include the recent Windows PC version of Final Fantasy 5, a game that has also been made available on iOS devices.

Dragon Quest 8: Journey of the Cursed King for PlayStation 2 has also been ported to iOS and Android, and will see a re-release on Nintendo 3DS. While gamers in the West can pick up the mobile editions, the 3DS version has yet to be confirmed for an overseas release.