Square Enix clarifies plans to expand overseas division
Yoichi Wada, President of Square Enix, has issued a statement clarifying some comments his executives have made recently about the company’s plans to expand its overseas operations. The Japanese company, known primarily for RPGs such as the Final Fantasy and Dragon Quest franchises, currently earns half its revenue from areas outside Japan. But Wada says the overseas markets have increased to more than three times the size of the Japanese market, and Square Enix aims to increase its presence in these areas.
“It is crucial for us to expand our businesses on a global basis,” said Wada. “Given the fact that the size of overseas markets is now more than three times as large as the domestic market, we recognize numerous growth opportunities.”
Square Enix has two strategies planned to seize these opportunities. First, the company will strengthen its distribution channels through local subsidiaries in each area. Also, Wada says Square Enix must diversify its game offerings to suit local tastes around the world.
“Through these strategic initiatives, our initial goal within a time frame of three to five years is to raise our foreign sales ratio for console/handheld games from its current 50% level to approximately 75%. We shall continue our effort to better serve overseas markets.”
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