Square reports losses, shuffles corporate staff.
Despite their prolific year developing acclaimed software, Square has reported losses for this quarter. Ending in March, the fiscal period marks the first ever loss for the storied company. In response to the shortcomings, three high-ranking Squaresoft officials have forfeited their positions within the company. According to Famitsu, Square will report losses this quarter largely due to investments in Playonline.com and the grandiose budget of the awaited Final Fantasy movie.
The three executives in question resigned their previous position and have accepted more limited roles within the Squaresoft corporation. Tomoyuki Takeichi, Square's former managing director and chairman of the board, is now a contracted advisor for the company. Director Masatsugu Hiramatsu will now contribute as an executive official. The most significant executive affected by the restructuring, Hironobu Sakaguchi, will retain his previous position as the executive producer of games. His involvement in the development of the hallowed Final Fantasy series will not change because of the alterations.
2/9/2001 Bryan Keers