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Square Enix To Leave IO Interactive

| Categories: Video Games | 10 Comments »

Well, Hitman is now entering the unknown. Square Enix announced that they will be withdrawing from IO Interactive, the creators of the Hitman series. Though there is hope, Square is apparently in talks with potential new investors, which means we may still get more Hitman if someone picks it up.  Below you can view Squares statement on this situation.

 

Notice of Booking of Extraordinary Loss

SQUARE ENIX HOLDINGS CO., LTD. (the “Company”) announces today that it has booked the
following extraordinary loss in the financial results for the fiscal year ended March 31, 2017.

1. The cause and nature of the extraordinary loss

To maximize player satisfaction as well as market potential going forward, we are focusing our
resources and energies on key franchises and studios. As a result, the Company has regrettably
decided to withdraw from the business of IO INTERACTIVE A/S, a wholly‐owned subsidiary and a
Danish corporation, as of March 31, 2017. This decision has resulted in booking of the
extraordinary loss amounting to 4,898 million yen, including disposition of the content
production account related to the business and impairment loss of intangible assets, in the
financial results for the fiscal year ended March 31, 2017.
As a result of this the Company started discussions with potential new investors and is
currently in negotiations to secure this investment. Whilst there can be no guarantees that the
negotiations will be concluded successfully, they are being explored since this is in the best
interests of our shareholders, the studio and the industry as a whole.
2. Effect on the financial results
The above‐mentioned extraordinary loss has been fully reflected in the financial results
announced today as the “Consolidated Financial Results for the Fiscal Year Ended March 31, 2017

  • Jacob Kellogg

    It’s really sad, people say the New Hitman was fantastic. :(

    And the creators listened to fans and actually cared about the franchise.

  • Leon Evelake

    What the crap?

  • TimesTicking

    Having a little trouble understanding this.
    SE are letting them go but they are trying to look for an investor to take on the studio? Or is the studio looking for an investor that is outside of SE?

    • Dub-Sempar Pa

      They are leaving the company and want other guys to buy it from I I think

    • Jacob Kellogg

      They seem to be looking to sell it off.

  • Dub-Sempar Pa

    SquareEnix makes no sense hit man is a big series I would not through it away

    • Jacob Kellogg

      The have insane expectations for games.