Square Enix Tries Another Reboot

Matt Dion
2 min readJun 3, 2024

Can Square Enix return to growth after a dismal earnings report, disappointing sales figures, and a rough first year for its new CEO?

Image Credit: Square Enix

Square Enix is facing critical challenges amid fluctuating financial performance, as both its stock price and its fundamentals are floundering.

The Japanese publisher saw its stock price drop nearly 16% on the back of a 26.6% year-over-year decline in operating income, flagship titles that didn’t reach the company’s own forecasts, and investor fears over a light release slate.

With nearly a year under his belt in the role, CEO Takashi Kiryu is faced with the tall task of reshaping a global organization, refilling the company’s pipeline of projects, and returning the company to long-term growth amid an increasingly competitive and consolidated market.

The recent drop in Square Enix’s stock price brought the ticker to its lowest levels since May 2020. The previous low came just a few months ago in December 2023, also under Kiryu.

Image Credit: Yahoo Finance / Naavik

To be fair to Kiryu and Square Enix, the company is in the midst of a transition to its latest “medium-term business plan”: a set of financial goals and strategic…



Matt Dion

Always Scheming is the product of Matt Dion, a writer, entrepreneur, and games industry professional.