Square details earning estimates
Square has announced a revised estimate of their yearly earnings ending March 2002. With a previous net profit of 500,000,000 yen predicted, Square has upped that figure to 800,000,000 yen. With a 2,000,000,000 yen loss last year, the company is very excited about future earnings. The reason for the increase in expected profit is due to the sale of their share in Japanese distributor DigiCube, from 47.05% holdings to 38.38%.
The large amount of sales obtained by Final Fantasy X is also expected to contribute an increase in profits as the company has already shipped 2,140,000 copies of the game to Japan. Although presently in the red, Square’s tremendous success with Final Fantasy titles is an apparent relief to the company, especially as it prepares to be released in America early 2002.
8/2/2001 Matt Stensrud