Founder and former CEO of Square Hisashi Suzuki has damned the company’s merger with Enix as a “total failure,” declaring Square Enix has “no vision for the future” and pointing to its huge losses and a market cap which is now well below the company’s pre-merger valuation as evidence of the disaster.
Hisashi Suzuki, one of Square’s founders and its CEO until 2004, and now a top executive at Rakuten, let rip in a recent Tweet:
A market cap of ¥124 billion [$154 million]. It was ¥150 billion [$185 million] even before the merger with Enix.
The merger was a total failure. There is no vision for the future there.
From April to September, Square Enix Holdings posted a 5.4 billion yen net loss, much of it development expenses.
This all comes from Nikkei.