The resignation for Square Enix president Yoichi Wada was explained during a recent shareholder meeting. The company saw disappointing sales of certain titles in North America and Europe leading to total losses near $130 million. During the past fiscal year, Sleeping Dogs sold only 1.75 million with expectations of 2 to 2.5 million units, Hitman: Absolution sold 3.6 million units on expectations of 4.5 to 5 million units and Tomb Raider sold 3.4 million units when its month of availability was expected to move 5 to 6 million units.
“I, personally, would have liked to wait and hand over the firm when it is at its best, however the huge loss was like a voice from the heavens telling me it’s time to move on,” Wada said. “After given much thought, I have judged that it would be best to support the company in other ways as I hand over my roles and responsibilities. For this reason, I have decided to step down.”
Other setbacks included the closure of Japanese studios, leading to a loss of $40 million, and a U.S. division for casual smartphone games was shuttered, leading to a loss of $10 million.
