Square Enix clarifies position on overseas business development

After news about Square Enix looking for western business partners came out earlier this week, the company has released a statement to clarify its position on overseas business development.

While previous reports quoted Square Enix senior VP Michihiko Sasaki as saying that the company is currently making only 10 to 20 percent of its total annual sales, president and representative director Yoichi Wada states that the company’s games revenue in overseas markets actually accounts for 50 percent of the total revenue in this segment.

Wada went on to say that the company’s initial goal within a time frame of three to five years is to “raise [its] foreign sales ratio for console and handheld games from its current 50% level to approximately 75%”. To achieve this, Wada outlined Square Enix’s two-fold strategy:

Our strategy to seize such opportunities is two-fold; (i) strengthen our own distribution channels developed by our local subsidiaries in these geographic areas, and (ii) diversify our content in accordance with user preferences in each area.

Wada further stated that they shall continue their efforts to better serve overseas markets.

After news about Square Enix looking for western business partners came out earlier this week, the company has released a statement to clarify its position on overseas business development.

While previous reports quoted Square Enix senior VP Michihiko Sasaki as saying that the company is currently making only 10 to 20 percent of its total annual sales, president and representative director Yoichi Wada states that the company’s games revenue in overseas markets actually accounts for 50 percent of the total revenue in this segment.

Wada went on to say that the company’s initial goal within a time frame of three to five years is to “raise [its] foreign sales ratio for console and handheld games from its current 50% level to approximately 75%”. To achieve this, Wada outlined Square Enix’s two-fold strategy:

Our strategy to seize such opportunities is two-fold; (i) strengthen our own distribution channels developed by our local subsidiaries in these geographic areas, and (ii) diversify our content in accordance with user preferences in each area.

Wada further stated that they shall continue their efforts to better serve overseas markets.